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Exiqon's First-Half '09 Revenues Rise 32 Percent

NEW YORK (GenomeWeb News) – Exiqon today reported that its first-half 2009 revenues rose 32 percent to DKK58.4 million ($11.2 million) compared to DKK44.5 million for the first half of 2008.

The Danish life science products and molecular diagnostics firm said that its second-quarter revenues rose 9 percent year over year to DKK30.6 million from DKK28 million.

Exiqon's net loss for the first half of the year was DKK81.2 million, or DKK2.86 per share.

Since June 30, the firm has undertaken a restructuring of its life sciences business aimed at reducing its annual costs by DKK40 million.

"We have now restructured Exiqon Life Sciences," said Exiqon CEO Lars Kongsbak. "As part of the restructuring, we will improve margins through outsourcing of our manufacturing, and the first product lines have already been successfully outsourced."

He added that the firm's diagnostic development programs are "progressing as planned."

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