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CuraGen Reports Q3 Results
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Business New Haven
11/12/2001
By: BNH
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NEW HAVEN - CuraGen Corp. (NASDAQ: CRGN), a genomics-based biopharmaceutical company, reported financial results for its third quarter ended on September 30.
Revenue for the period increased 21 percent to $6,084,042, compared to $5,040,215 reported for the same period a year ago. CuraGen reported a net loss of $11,116,486 (23 cents per share), compared to a net loss of $7,051,042 or (18 cents per share) for the same period in the prior year. General and administrative expenses increased approximately 28 percent to $4,829,633, while research and development spending nearly doubled to $17,388,435, compared to the same period in 2000. As of September 30, CuraGen had available cash and short-term investments of approximately $525 million.
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