Decode's Revenues Drop 8 Percent, Losses Widen in Q1
Decode Genetics this week reported an 8-percent drop in revenues and a widened net loss for the first quarter of 2005.
Revenues for the quarter totaled $9.5 million, down from $10.3 million for the same period a year ago. This decrease reflects the company's new focus on drug discovery and development, according to Decode. The company said it also had $17.5 million in deferred research revenue on March 31, which it will recognize in future quarters.