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Senesco Technologies Reports Third Quarter Fiscal 2008 Financial Results


showed evidence of significant tumor regression relative to the

untreated control mice, while the other showed a diminished rate of

tumor growth along with some regression.

-- Initial field trials conducted with ArborGen, LLC over a three-year

period in certain species of trees have concluded and the trees have

been harvested for wood quality assessment. Preliminary data from the

field trials show significantly enhanced growth rates in some of the

trees relative to controls. The Company and ArborGen have selected

promising genetic lines which are now being prepared for additional

field trials.

Bruce Galton, President and Chief Executive Officer of the Company, said, "We continue to progress our human health programs and believe we have positive preclinical results in our multiple myeloma studies and pancreatic islet cell research. Senesco is working closely with our contract research organization in evaluating materials and planning the work ahead for our multiple myeloma program. In addition, our agricultural licensees have initiated research with our technology in crops such as corn, soy, rice, canola and cotton. We continue banana field trials with our joint venture partner, Rahan Meristem. Our technology provides a very broad platform of applications for human health in oncology and inflammatory diseases and across a variety of food and non-food agricultural crops."

Revenue of $79,167 for the three-month period ended March 31, 2008 consisted of milestone payments and the amortized portion of previous milestone payments received in connection with certain license agreements. During the three-month period ended March 31, 2007, revenue of $6,250 consisted of the amortized portion of previous milestone payments received in connection with certain development and license agreements.

Research and development expenses during the three-month period ended March 31,

SOURCE Senesco Technologies, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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