By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – WaferGen Biosystems today reported a steep drop in its third-quarter revenues and a planned cut of 24 percent of its workforce as part of a revised plan to increase adoption of its SmartChip System.

The Fremont, Calif.-based firm reported total revenues of $89,088 for the quarter ended Sept. 30, compared to $633,241 for the third quarter of 2010.

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