As Cell Genesys shrinks, loss shrinks - Silicon Valley / San Jose Business Journal:

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In December, a deal over prostate cance treatment the business had withfell through, and Cell Genesysx (NASDAQ:CEGE) counted the $40.9 million left over from a non-refundable $50 milliohn payment from Takeda as revenue. In the fourthy quarter, Cell Genesys stopped the GVAX prostatew cancer program and cut its stafd by about230 people. About 30 more people were cut after the end of the leaving 21 workers atthe business. More of those peoplse are set to be letgo “as additionall activities are phased out.” The company, whicu has set up a temporaryg head office in Hayward after ending its leaser in South San Francisco, lost $13.
3 million in the fourth quarter, compareds with a loss of $33.4 millionj a year earlier in the same Forthe year, Cell Genesyds lost $47 million, down from a loss of $99.4 million in 2007. Revenue in the fourth quartedrwas $47.4 million, up from revenue of $102,000 a year For the year, revenue was $94.6 up from revenue of $1.4 millionh in 2007. Cell Genesys took $71.8 million in impairment charges forthe year. It will have abouyt $73 million in cash, equivalents and short term investment s at the end of March and has hires to help it figure out what todo now, whethef to merge with a partner, sell parts of the or liquidate.