Ardea Biosciences, Inc. (RDEA)

[surf1944]

8:35AM Ardea Biosciences misses on top and bottom lines (RDEA) 31.70 : Reports net loss of $1.25 per share vs ($1.01) CIQ est; revs decreased 17% YoY to $1.5 mln vs $1.9 mln CIQ est. Co states the decrease in revenues in 2012 as compared to 2011 was primarily due to a decrease in reimbursable research and development costs related to BAY86-9766, which are reimbursed under the terms of our global license agreement with Bayer HealthCare (BAYRY)