Davis biotech firm sees revenue gains, but first-quarter net loss

Davis-based biotech firm Arcadia Biosciences Inc. saw year-over-year revenue gains but posted a loss in this year’s first quarter.

First-quarter revenue totaled $1 million, up from $852,000 in the opening quarter of 2016.

The company said it trimmed operating expenses from last year’s $5.8 million to $5 million in the first quarter of 2017.

That helped reduce the firm’s net loss to $4.2 million, or 10 cents a share, in this year’s opening quarter, down from a loss of $5.2 million, or 12 cents a share, in the initial quarter of 2016.

This story was originally published May 10, 2017 at 1:26 PM with the headline "Davis biotech firm sees revenue gains, but first-quarter net loss."