9 Aug 2009

Further loss by Genesis Research

7:49 am on 9 August 2009

Genesis Research & Development made a loss of $1 million in the six months to the end of June.

It follows a loss of $2.3 million in the first half last year.

Genesis says the loss was due to cost reductions as the company focused on a new gene silencing technology.

Since balance date, the company has secured $1 million of funding with a Japanese investment group to set up a subsidiary to market its technology.