Davis-based biotech firm Arcadia Biosciences Inc. saw a sharp reduction in year-over-year revenue, which resulted in a net loss of $4.5 million in this year’s third quarter.
The company, which reported quarterly financials on Thursday, lost $4.2 million in the third quarter of 2016.
Revenue in the most recent quarter ended Sept. 30 totaled $589,000, 45 percent lower than $1.1 million reported in the year-ago period.
The company noted that the quarter-over-quarter decrease was driven primarily by the completion of a four-year grant in this year’s second quarter.
Through nine months, the company’s net loss attributable to common stockholders was $12.7 million, down from a loss of $13.9 million in 2016.
Through the first nine months of 2017, revenue was $2.6 million, nearly matching the year-ago total.
Arcadia went public in May 2015, raising $65.6 million in its initial public stock offering.