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Senesco Technologies Reports Third Quarter Fiscal 2009 Financial Results
Date:5/4/2009

NEW BRUNSWICK, N.J., May 4 /PRNewswire-FirstCall/ -- Senesco Technologies, Inc. ("Senesco" or the "Company") (NYSE Amex: SNT) today reported financial results for the three months ended March 31, 2009.

Net loss for the three month period ended March 31, 2009 was $1,331,477, or $0.07 per share, compared with a net loss of $1,482,217, or $0.08 per share, for the three month period ended March 31, 2008. This decrease in net loss was primarily the result of a decrease in operating expenses, which was partially offset by an increase in non-cash expenses associated with the outstanding convertible notes that were issued during the year ended June 30, 2008.

Quarterly Highlights

As previously reported:

  • Senesco announced results of maximum tolerated dose, preclinical toxicology, and efficacy / dose-range finding studies in mice for SNS-01, the Company's multiple myeloma drug candidate.
  • Management delivered the Company's corporate presentation at the 11th Annual BIO CEO & Investor Conference.

"Senesco's goal continues to be the filing of an Investigational New Drug application for SNS-01, the Company's multiple myeloma drug candidate, before the end of calendar year 2009," said Bruce Galton, President and CEO of Senesco.

Total revenues of $75,000 for the three month period ended March 31, 2009 consisted of a milestone payment on an agricultural license agreement. Total revenues of $79,167 for the three month period ended March 31, 2008 consisted of a milestone payment and the amortized portion of previous milestone payments received in connection with certain agricultural license agreements.

Research and development expenses during the three month period ended March 31, 20
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SOURCE Senesco Technologies, Inc.
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