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Exiqon's Q3 Revenues Increase 30 Percent

NEW YORK (GenomeWeb News) – Exiqon reported today that its third-quarter revenues jumped 30 percent year over year.

The Danish miRNA research products and diagnostics firm brought in total revenues of DKK 27.1 million ($5 million) for the quarter ended Sept. 30, compared to DKK 20.9 million for the third quarter of 2010. It said that its research product sales grew 33 percent year over year.

The firm said that for the last 10 consecutive quarters its product sales, excluding OEM sales and reagent sales associated with license agreements, increased 8 percent, on average, quarter over quarter.

Exiqon's net loss for the period was DKK 8.2 million, or DKK .22 per share, compared to a loss of DKK 13 million, or DKK .39 per share, for Q3 2010.

Its R&D expenses declined around 7 percent to DKK 5.7 million from DKK 6.1 million, while its sales, marketing, and administrative spending increased 46 percent to DKK 20.1 million from DKK 13.8 million.

Exiqon expects to report full-year 2011 revenues of DKK 110 million and EBITDA, excluding one-time litigation costs, of around DKK .00.

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