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Lipid Sciences, Inc.

Biotechnology company reports improved third quarter results

For the third quarter of 2004, Lipid reported a net loss of $3.2 million, or $.13 per share, on a basic and diluted basis. This compares with a net loss of $2.9 million, or $.14 per share for the same period in 2003. Operating expenses for the third quarter of 2004 were $3.2 million versus $2.3 million during the same period in 2003.

Lipid attributed the 36% increase in operating expenses to an increase in outside research expenses related to a non-human primate study, which began in the third quarter of 2004 at the Wake Forest University Baptist Medical...

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