NEW YORK (GenomeWeb News) – Nanogen reported after market close on Friday that its fourth-quarter revenues decreased 3 percent, as the firm's cash reserves have dipped to $3.1 million.

The San Diego-based molecular diagnostics company released its preliminary results and said that it had deferred the audit of its financial statements for the year ended Dec. 31, 2008, in an effort to conserve cash. It noted that this move means it will not file its 10-K with the US Securities and Exchange Commission by the deadline of March 31.

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