By a GenomeWeb Staff Reporter

NEW YORK (GenomeWeb News) – Canadian molecular diagnostics firm GeneNews reported after the close of the market on Friday that revenues for the fourth quarter dropped to C$4,000 (US$4,101) for the three months ended Dec.31, 2010, down from C$410,000 a year ago.

The decline was due to lower revenue from milestone and non-refundable license fees, which plummeted to $C$1,643 from C$398,325, as GeneNews completed all of its historic research agreements.

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