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Senetek PLC Reports First Quarter 2009 Financial Results
Date:5/15/2009

NAPA, Calif., May 15 /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 quarter ended March 31, 2009.

Revenue for the quarter ended March 31, 2009 was $461,000, compared with $230,000 reported in the fourth quarter of 2008 and $441,000 reported in the first quarter of 2008.

Revenues from Pyratine product sales in the first quarter of 2009 were $93,000 compared to $43,000 and $89,000 in the fourth quarter of 2008 and the first quarter of 2008, respectively. Pyratine XR(TM), launched in March 2009 made a limited contribution to first quarter 2009 sales due to the timing of the product launch.

Royalty revenue on sales of monoclonal antibodies totaled $323,000 in the first quarter of 2009 compared to $145,000 and $279,000 in the fourth quarter of 2008 and the first quarter of 2008, respectively.

Revenues in the first quarter of 2008 included $30,000 in product sales of Kinetin raw material and formulated products. Other quarterly sources of revenues were comparable between the first quarter of 2009 and the fourth and first quarters of 2008.

Net loss for the quarter ended March 31, 2009 totaled $1,147,000 or $0.15 per diluted share compared to a net loss of $1,209,000 or $0.16 per diluted share for the quarter ended December 31, 2008 and a net loss of $1,757,000 or $0.23 per diluted share for the quarter ended March 31, 2008.

In March, the Company launched Pyratine XR(TM) at the 67th Annual Meeting of the American Academy of Dermatology. In one rosacea specific study performed at the University of California, Irvine, data demonstrated that Pyratine XR(TM) showed continual improvement for all of the major symptoms of rosacea - redness, lesions and spider veins - throughout the entire course of a 48
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SOURCE Senetek PLC
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