The Company reported a loss from continuing operations of $1.2 million, or $(0.03) per basic and diluted common share, for the fourth quarter of 2010, compared to $1.9 million or $(0.06) per basic and diluted common share for the same period in 2009.
As of December 31, 2010, the Company had cash and cash equivalents of $4.0 million, compared to $0.9 million of cash and cash equivalents on December 31, 2009. In addition, as of December 31, 2010, the Company had access to $3.3 million under credit facilities with Pyxis Innovations Inc., an affiliate of Alticor, which permits borrowing through June 2012.
"In addition to the significant findings on our test announced by Stanford University, the Company partnered with the University of Michigan and Renaissance Health in 2010 to initiate a landmark clinical study related to periodontal disease. This study has the potential to lead to broad reimbursement of our PST test and a new insurance model for oral healthcare. We also announced research findings related to osteoarthritis progression that could enable the identification of early disease patients who may benefit from new drugs in development to modify the progression of the disease," said Bender. "We enter 2011 positioned to capitalize on the need for clinically-validated biomarkers in drug development and to see continued sales of our Inherent Health brand of tests."
2010 Highlights Presented Findings from Retrospective Clinical Study on Weight Management with Stanford University: In March the Company announced results from a retrospective clinical study with Stanford University that were presented by investigators from Stanford Prevention Research Center at Stanford University School
|SOURCE Interleukin Genetics, Inc.|
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