Despite Funding Shortage, CombiMatrix to Grow Sales Force, Test Menu to Support Dx Unit | GenomeWeb

CombiMatrix reported last week that its fourth-quarter revenues decreased 37 percent, mostly due to a year-over-year decline in government contract and product revenue. Meantime, the Mukilteo, Wash.-based firm said its net loss widened by 17 percent during the quarter.

CombiMatrix said in a statement that it would need to raise additional funds, as its $9.1 million in cash, cash equivalents, and available-for-sale investments as of the end of 2008 will carry the firm only until September.

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