SAN DIEGO COUNTY - News from April 27, 1989

Gen-Probe reported a $1.6-million net loss for the first quarter of 1989, contrasted with a $2.1-million net loss for the same quarter a year ago. Revenue rose to $2.2 million, up from $1 million. Quarterly product sales for the first time reached $1 million, according to a prepared statement released Tuesday by Gen-Probe President and Chief Executive Thomas A. Bologna. Increased product sales and “an increased portion of research-and-development expenses funded through collaborative arrangements” helped cut Gen-Probe’s loss, Bologna said.

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