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Interleukin Genetics Reports Second Quarter 2009 Financial Results
Date:8/13/2009

ngoing costs associated with our patent portfolio. In addition, we continue to allocate resources to projects underway with Alticor, as well as the development of our own genetic test products.

Selling, general and administrative expenses from continuing operations were $1.3 million for the three months ended June 30, 2009, compared to $1.2 million for same period in the prior year. The increase was primarily attributable to product development costs associated with our new Inherent Health((TM)) brand of genetic tests.

The Company reported a net loss from continuing operations of $2.3 million, or $(0.07) per basic and diluted common share, for the second quarter of 2009, compared to $1.6 million, or $(0.05) for the same period in the prior year. The Company recorded a net loss from discontinued operations of $1.4 million or $(0.05) per basic and diluted common share. The Company reported a total net loss of $3.7 million, or $(0.12) per basic and diluted common share, for the second quarter of 2009 compared to $1.7 million or $(0.05) for the same period in the prior year. On June 30, 2009, the Company reported cash and cash equivalents of $0.9 million. In addition to cash on hand and the $4.4 million in cash proceeds received on July 1, 2009 from the sale of AJG assets, the Company has access to $9.3 million under its credit facility with Pyxis Innovations, Inc., an affiliate of Alticor.

2009 Highlights to Date

Corporate Highlights

  • Sold Alan James Group assets of its subsidiary AJG Brands, Inc. In July, the Company executed an agreement to sell the Alan James Group assets of its subsidiary AJG Brands, Inc. to Pep Products, Inc. for $4.6 million.
  • Launched Inherent Health Brand of Genetic Tests. Announced in June the introduction of Inherent Health brand of genetic tests and related programs including the first-of-its-kind t
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SOURCE Interleukin Genetics, Inc.
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