Cost of product sales remained at $0.6 million for the three months ended May 31, 2012 compared to the three months ended May 31, 2011.Research and development expenses increased to $5.3 million in the quarter ended May 31, 2012 compared to $5.2 million in the same period in fiscal year 2011. This increase was due primarily to increases in headcount and other resources deployed to support Ceres’ plant breeding activities in Brazil. The increase was almost fully offset by reduced expenses related to warrants issued in connection with collaborations as well as lower consulting and external research and development expenses in the U.S.
Ceres Announces Fiscal Third Quarter 2012 Financial Results
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