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Tripos, CLC Bio, Compugen, NHGRI

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Tripos Restates Q3 ’06 Financials to Account for $3.6M Impairment Charge
 
Tripos this week restated its financial statements for the fiscal quarter ended Sept. 30, 2006, to include a $3.6 million impairment charge.
 
The charge is equivalent to the loss on the company’s sale of property at its Bude, UK, research facility in the fourth quarter of 2006. As of Sept. 30, 2006, the property — four surplus buildings — had a net book carrying value of $4.9 million.
 
The company sold the buildings in November for $1.3 million, realizing a loss of $3.6 million.
 
As a result of the impairment charge, the company’s restated net loss for the period is $7.6 million, as opposed to $4.0 million, as previously reported.
 

 
CLC Bio Tapped as Apple Solution Provider
 
CLC Bio said this week that it has been named an Apple Proprietary Solution Provider.
 
The company said that the partnership will ensure that its software can run on new versions of the Mac OS X operating system, including the upcoming 10.5 “Leopard” release.
 

 
Compugen Posts $10K in Q4 Revenue; May Require Cash Infusion in Mid-'09
 
Compugen this week reported fourth-quarter revenues of $10,000, compared with zero revenue in the prior-year period.
 
R&D spending for the quarter ended Dec. 31, 2006, rose to $2.9 million from $2.4 million year over year.
 
Net loss for the quarter increased to $3.8 million and included a $523,000 non-cash stock-based compensation expense, from $3.4 million last year, which included a $78,000 non-cash stock-based compensation expense.
 
As of Dec. 31, 2006, Compugen had $26.4 million in cash, cash equivalents, deposits, and marketable securities.
 
The company said it expects to spend between $12 million and $14 million in cash this year. Assuming no new sources of cash during 2007, Compugen said it will end the year with around $16 million in cash, cash equivalents, deposits, and marketable securities.
 
“Assuming no new sources of cash during either 2007 or 2008 and anticipated net cash uses, the company anticipates that it would require additional cash resources by mid-2009, and that such additional required cash could be in the range of an estimated $20 million until positive cash flow could be achieved,” Compugen said in a statement.
 
The firm said that “market and other conditions will determine whether any necessary funds would be sought through equity-related offerings, collaborative or strategic arrangements, or some combination of these or other types of transactions.”
 

 
NHGRI to Issue RFA on Linking Genome-Wide Biorepository Studies with Electronic Medical Records
 
The National Human Genome Research Institute plans to fund the development of methods and procedures for using electronic medical records in genome-wide studies that rely on biorepositories.
 
In a notice of intent issued last week, NHGRI said it will issue a request for applications in the spring of 2007 that will fund groups “affiliated with existing biorepositories” to develop methods and procedures for “genome-wide studies in participants with phenotypes and environmental exposures defined by electronic medical records, with the intent of widespread sharing of the resulting individual genotype-phenotype data.”
 
NHGRI said it expects to review proposals and issue resources by the end of September. It did not say how much funding it expects to award under the program.
 
“The potential for leveraging existing health care systems for genomic research is vast, particularly in regard to speed, efficiency, cost-effectiveness, and potential for rapid translation to clinical care,” NHGRI said in the notice of intent. “The challenges posed by such research, however, must be carefully examined and addressed if risks are to be minimized and the full value of such repositories realized.”
 
The program will consider and address issues of consent and consultation connected to biorepository-based research, genome-wide technologies, and data sharing, NHGRI said.
 
The institute said it will support studies such as “harmonizing phenotypes, developing data-capture methods and analytic strategies, assessing data quality and potential biases, and evaluating or improving consent or data protection processes.”
 
Applicants should have access to DNA information from an existing biorepository with populations large enough to test genome-wide association hypotheses within a year of receiving the award.

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