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Exiqon's Q3 Revenues Down 1 Percent

NEW YORK (GenomeWeb News) – Exiqon today reported that its third quarter revenues declined around 1 percent year over year.

The Danish firm reported total revenues of DKK 29.8 million ($5.5 million) for the quarter, compared to DKK 30.1 million for Q3 2012. It said that its research product sales and services, excluding OEM, increased 17 percent year over year to DKK 26.5 million, with North American sales for those products up 44 percent.

Exiqon posted a net loss of DKK 1.7 million, or DKK .05 per share, versus a loss of DKK 700,000, or DKK .02 per share, for the third quarter of 2012.

The firm noted that is in the process of establishing new lab facilities for the launch of its upcoming next-generation sequencing services.

"I'm very pleased with the strong performance in North America, which indicates that the changes implemented over the past year are starting to pay off," Exiqon CEO Lars Kongsbak said in a statement. "I'm also very pleased to see that our next-generation sequencing effort, which we established on the back of the bond financing, is on track for launch early 2014."

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