NEW BRUNSWICK, N.J., Feb. 15 /PRNewswire-FirstCall/ -- Senesco Technologies, Inc. ("Senesco" or the "Company") (Amex: SNT) today reported financial results for the three months ended December 31, 2007.
Net loss for the three month period ended December 31, 2007 was $1.3
million, or $0.07 per share, compared with a net loss of $1.1 million, or
$0.07 per share, for the three month period ended December 31, 2006. This
increase in net loss was primarily the result of a decrease in revenue and
an increase in expenses associated with the outstanding convertible notes
that were issued during the current fiscal year, which was partially offset
by a decrease in operating expenses.
Quarterly and Recent Highlights
-- Senesco closed on an additional gross amount of $5.5 million of its
previously announced private placements with YA Global Investments, LP
("YA Global") and Stanford Venture Capital Holdings, Inc. ("Stanford").
Through January 31, 2008, Senesco has now closed on an aggregate of
$7 million of the $10 million private placements of secured convertible
debentures and warrants and has met the three triggering milestones
necessary in order to fix the conversion price of the convertible notes
issued to YA Global and Stanford at $0.90 per share of common stock.
-- Senesco selected Cato Research, a leading contract research
organization ("CRO"), to assist the Company with its goal of initiating
a clinical trial.
-- Senesco initiated and announced the results of certain preclinical
animal studies focused on multiple myeloma. In the studies, SCID
(severe combined immunodeficiency) mice were injected subcutan
|SOURCE Senesco Technologies, Inc.|
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