Senesco Technologies Reports Second Quarter Fiscal 2008 Financi...( NEW BRUNSWICK N.J. Feb. 15 /- Sen...)

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
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