Media Attention Builds for Pyratine-6(TM) and Pyratine XR(TM)
NAPA, Calif., March 31 /PRNewswire-FirstCall/ -- Senetek PLC (OTC Bulletin Board: SNKTY), a Life Sciences company engaged in the development of technologies that target the science of healthy aging, announced results for the fourth quarter and year ended December 31, 2008.
Revenue for the year ended December 31, 2008 was $1,845,000, compared with $26,471,000 reported in 2007. Revenues for the fourth quarter of 2008 were $230,000, compared with $223,000 for the same period in the prior year.
Net loss for the year ended December 31, 2008 totaled $3,759,000 or $0.49 per diluted share compared to net income of $18,632,000 or $2.41 per diluted share in 2007. Net loss for the fourth quarter of 2008 was $1,209,000, or $0.16 per diluted share compared with net loss of $1,706,000, or $0.22 per diluted share in the fourth quarter of 2007.
Cash used in operations for the year ended December 31, 2008 was $3,971,000, compared with cash provided by operations of $18,019,000 in 2007.
Revenues, net income and cash flow in 2007 reflect the effect of the grant of a paid up license for Kinetin and Zeatin to Valeant Pharmaceuticals Inc. in March 2007 which contributed $24,750,000 to skincare revenues.
The Company continues to garner media attention related to its September 2008 launch of Pyratine-6(TM) and its March 2009 launch of Pyratine XR(TM) at the American Academy of Dermatology's 67th Annual Meeting. Pyratine-6(TM) and Pyratine XR(TM) have been featured in magazines including Prevention, Dermatology Times, Inside Cosmeceuticals, Les Nouvelles Esthetiques and Skin Inc. and in radio and television spots in Las Vegas, Nevada and Baltimore, Maryland.
Commenting on media coverage of Pyratine-6(TM) and Pyratine XR(TM), Frank J. Massino, Chairman and Chief Executive Officer of Senetek PLC s
|SOURCE Senetek PLC|
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