LONDON – Pharmaceutical fledgling Critical Outcome Technologies Inc. sustains Q4 net losses of $1.34 million, more than double the $612,542 in losses for the same period in 2008. Revenue, stemming from collaboration agreements, totalled $29,972 during the fourth quarter, compared to no revenue last Q4. For the full fiscal year, the company incurred net losses of $3.92 million on revenues of $49,158. In 2008, it lost $1.9 million on revenues of $30,822. This $2 million in increased losses resulted primarily from the firm’s heightened level of R&D. “[COTI] has made substantial progress in just our second full year of operations as a public company,” says CEO Michael Cloutier. “We have worked hard to raise awareness of our technology and its capabilities with major pharmaceutical companies and announced our second collaboration agreement during the year.” For complete results click here.