Paradigm Genetics cut its first-quarter losses to $4.1 million, or 13 cents a share. That’s down from $5.2 million a year ago and was 2 cents under guidance offered by Paradigm.
The company (Nasdaq: PDGM) also said revenues decreased to $4.1 million from $5.6 million in the same time frame. Paradigm said contracts with Bayer and Monsanto produced less revenue.
Cuts in losses came largely through layoffs and other cost-cutting controls, the firm said.
Paradigm reported a $6.6 million in the previous quarter.