By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – GeneNews today reported that it has cut its first-quarter net loss 30 percent, even though it had hardly any revenue for the period.

The Toronto-based molecular diagnostics firm brought in total revenues of just C$4,417 (US$4,298) for the three-month period ended March 31, compared to C$259,210 for the first quarter of 2009. The bulk of last year's revenues came from non-refundable license revenue, the firm said.

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