Navigation Links
Senetek PLC Reports Third Quarter 2007 Financial Results
Date:11/14/2007

Investor Conference Call Scheduled for November 20

NAPA, Calif., Nov. 14 /PRNewswire-FirstCall/ -- Senetek PLC (OTC Bulletin Board: SNTKY), a specialty life sciences company engaged in the study of senescense, the science of aging with an initial focus on skincare and dermatological therapeutics today announced financial results for the quarter ended September 30, 2007.

Revenues for the third quarter 2007 were $469,000 compared to $2,027,000 for the same period in the prior year. The decrease is a direct result of the March 30, 2007, License Acquisition Agreement with Valeant Pharmaceuticals Inc. which contributed $24,750,000 to skincare revenues in the first quarter of 2007 but eliminated Kinetin royalties after the first quarter of 2007.

Revenues for the nine months ended September 30, 2007 were $26,248,000 compared to $6,301,000 for the same period in 2006. This increase is directly attributed to the March 30, 2007, completion of the License Acquisition Agreement with Valeant.

The Company realized a net loss of $998,000 (a loss of $0.02 per share) in the third quarter of 2007 compared to net income of $771,000 ($0.01 per share) in the third quarter of 2006.

Net income for the nine months ended September 30, 2007 totaled $20,338,000 ($0.33 per share) compared to net income of $1,309,000 ($0.02 per share) for the first nine months of 2006. Net income for the nine months ended September 30, 2007 included the effect of the previously announced grant of a paid up license for Kinetin and Zeatin to Valeant Pharmaceuticals Inc. and $1,320,000 from settlement of claims against a professional services provider for past performance related matters. The net income for the nine months ended September 30, 2006 included a $927,000 non-cash expense for the write-off of the debt discount on retirement of the Senior Secured Notes and a $250,000 gain on the sale of Reliaject(R) assets.

Senetek will conduct a teleconference call for investors to provide a detailed update on developments on Tuesday, November 20, 2007 at 9:00 a.m. Pacific, 12:00 p.m. Eastern. The domestic dial-in number is 877-593-8638; the international dial-in number is 706-634-9240, conference ID 24562764. Mr. Frank J. Massino, Chairman and CEO and Mr. William F. O'Kelly, Chief Financial Officer, will discuss Company operations. Replay of the conference call will be available until November 27, 2007. Domestic Replay dial-in 800-642-1687, International Replay dial-in 706-645-9291, replay conference ID 24562764.

About Senetek PLC

Senetek PLC (OTCBB: SNTKY) is a specialty life sciences company engaged in the study of senescense, the science of aging with an initial focus on skincare and dermatological therapeutics. Senetek recently announced a Marketing Collaboration Agreement for its second-generation cytokinin with Triax Aesthetics LLC which will guarantee a minimum of $10.8 million in revenues in 2008 and granted Valeant Pharmaceuticals a paid up license for Senetek's first generation patented skin care active ingredient Kinetin and its analog Zeatin in return for $21 million cash and forgiveness of $6 million prepaid royalty credit, and is negotiating third party license agreements for new patent-pending second generation dermatological active ingredients and is completing development of a number of additional compounds. In addition, Senetek has entered into exclusive licenses for Europe and North America, respectively, for Invicorp(R), has an exclusive manufacturing distributorship for its proprietary diagnostic monoclonal antibodies, and recently sold, with retained rights of profit participation, its patented drug delivery system, Reliaject(R). For more information, visit the company's website at http://www.senetekplc.com.

This news release contains statements that may be considered 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements by their nature involve substantial uncertainty, and actual results may differ materially from those that might be suggested by such statements. Important factors identified by the Company that it believes could result in such material differences are described in the Company's Annual Report on Form 10-K for the year 2006. However, the Company necessarily can give no assurance that it has identified or will identify all of the factors that may result in any particular forward- looking statement materially differing from actual results, and the Company assumes no obligation to correct or update any forward-looking statements which may prove to be inaccurate, whether as a result of new information, future events or otherwise.


'/>"/>
SOURCE Senetek PLC
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. New Study Reports High Injury Rates for Hotel Workers, Even Higher Rates for Women and Nonwhites
2. Haemacure Reports Third Quarter 2007 Results
3. First-Ever List of the 5,000 Fastest-Growing Businesses Reports Total Revenue of $194.5 Billion
4. Consumer Reports Analysis: Drugs for Nerve Pain, Fibromyalgia Effective, But Not Always Best
5. MDS Reports Third Quarter 2007 Results
6. Allied Healthcare Reports Strong Fourth Quarter, Flat Net Income for Fiscal 2007 vs. 2006
7. AtriCure Reports First Human Implant of the Cosgrove-Gillinov Left Atrial Appendage Occlusion System
8. NMHC Reports Fourth Quarter and Fiscal Year 2007 Financial Results
9. Blue Cross and Blue Shield of Florida Reports Eighteenth Consecutive Year of Positive Performance
10. ReBuilder Medical Technologies, Inc. Reports International Sales Expansion
11. AdCare Health Systems, Inc. Reports Discontinuation of Definitive Merger Agreement with Family Home Health Services, Inc.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... 26, 2016 , ... On June 10-11, 2016, A Forever Recovery, a holistic ... World’s Longest Breakfast Table in Battle Creek, MI, where the rehabilitation facility is located. ... some of the world’s leading providers of cereal and other breakfast foods. Its residents ...
(Date:6/26/2016)... ... 26, 2016 , ... Brent Kasmer, a legally blind and certified personal trainer is helping to ... app. The fitness app plans to fix the two major problems leading the fitness industry ... fits all type program , They don’t eliminate all the reasons people quit ...
(Date:6/25/2016)... TX (PRWEB) , ... June 25, 2016 , ... Austin ... of the American College of Mohs Surgery and to Dr. Russell Peckham for medical ... and highly effective treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery ...
(Date:6/25/2016)... ... 25, 2016 , ... First Choice Emergency Room , the largest network ... the Medical Director of its new Mesquite-Samuell Farm facility. , “We are pleased ... location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... On Friday, ... presented a Bronze Wellness at Work award to iHire in recognition of their exemplary ... part of the 7th annual Maryland Workplace Health & Wellness Symposium at the BWI ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016 ... the "Structural Electronics 2015-2025: Applications, Technologies, Forecasts" ... In-Mold Electronics, Smart Skin, Structural ... Structural electronics involves electronic and/or ... protective structures, replacing dumb structures such as vehicle ...
(Date:6/24/2016)... 24, 2016 According to a ... (Standard Pen Needles, Safety Pen Needles), Needle Length (4mm, ... Hormone), Mode of Purchase (Retail, Non-Retail) - Trends & ... studies the market for the forecast period of 2016 ... 2.81 Billion by 2021 from USD 1.65 Billion in ...
(Date:6/23/2016)... , June 23, 2016 Research and ... Global Market - Forecast to 2022" report to their ... treatment method for the patients with kidney failure, it replaces ... fluid from the patient,s blood and thus the treatment helps ... and chloride in balance. Increasing number of ...
Breaking Medicine Technology: