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Bethesda-based Spherix cuts loss as revenue slips

BETHESDA — Spherix Inc. of Bethesda, said it cut its second-quarter net loss to $1 million, or 40 cents per diluted share, versus a net loss of $2.6 million, or $1.49 per share, for the year-ago period.

Revenue in the quarter ended June 30, 2011, was $186,000 versus $327,100 for the same period in 2010. Officials attributed the narrowing of the net loss mainly to lower research and development expenses. Spherix has two subsidiaries; one is developing treatments for diseases such as diabetes, metabolic syndrome and hardening of the arteries; the other provides technical and regulatory consulting services to biotechnology and pharmaceutical companies.