NEW YORK (GenomeWeb) – WaferGen Biosystems reported after the close of the market Thursday that its first quarter revenues jumped nearly 700 percent year over year, and the firm cut its loss sharply.

The Fremont, Calif.-based genetic analysis products firm, reported total revenues of $1.4 million for the three months ended March 31, up from $178,487 in revenues for the first quarter of 2013. Its product revenue was $1.3 million versus $95,154 year over year, while license and royalty revenue increased to $125,000 from $83,333.

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