Orchid Biosciences sees 1st-qtr revenues leap 60%

10 May 2001

US firm Orchid Biosciences says that revenues increased 60% to $5.6million for the first quarter of 2001. These came primarily from the placement of SNPstream 25K platforms, sales of SNPware consumable kits, turnover from single nucleotide polymorphism scoring and DNA and other genetic diversity testing services, collaboration and license fees and the addition of Cellmark Diagnostics, which Orchid acquired during the quarter.

Orchid reported a net loss of $11.5 million for the quarter, compared with $7.6 million in first-quarter 2000. Total operating expenses were $17.8 million, compared with $11.6 million in the like, 2000 quarter.

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