CALIFORNIA BIOTECH &lt;CBIO> SEES 1ST QTR LOSSCalifornia Biotechnology Inc said it expects to report a loss of 1,300,000 dlrs to 1,600,000 dlrs for the first quarter due to increased investment in research and manufacturing and a scaleup of production
    The company said research spending is running 50 to 60 pct above a year ago as it tries to commercialize its products as quickly as possible, and increased expenditures are expected to continue for several more quarters
 It said operating results will fluctuate quarter to quarter, depending on the timing of significant payments from commercial partners
    In the first three months of 1986, the company lost 150,000 dlrs
 The company changed its fiscal year in 1986 to a calendar year from a year ending November 30
 For the first quarter of last year, ended February 28, California Biotech earned 114,000 dlrs
 Reuter
