Genesis Research cuts loss for year from $7.5m to $700k
Genesis Research and Development reported a $776,000 loss in the 12 months to December 31, down from a $7.5 million loss in the same period last year.Revenue rose 60% to $1.95 million, and included $1 million from sale of intellectual property to Solirna
Genesis Research and Development reported a $776,000 loss in the 12 months to December 31, down from a $7.5 million loss in the same period last year.
Revenue rose 60% to $1.95 million, and included $1 million from sale of intellectual property to Solirna Biosciences and $492,000 for research service supplied to Solirna Biosciences.
The accounts were prepared on a going concern basis, with a need for further funding noted as a fundamental uncertainty.
The company has a cash balance of $300,000. There was no dividend payment.
The company was founded in 1994.
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.