Loss down 53% on cost cuts for deCODE
Icelandic biopharmaceutical firm deCODE genetics cut its loss by 53% in the first quarter of 2009, year-on-year, due to reduced R&D costs.
Net loss was $12.6 million, or $0.21 per share, compared to a loss of $26.7 million, or $0.44 per share. Revenue for the first quarter 2009 was $8.9 million, down 41%, principally due to lower contract service revenues.
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