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Interleukin Genetics Reports Third Quarter 2010 Financial Results

te these forward-looking statements.INTERLEUKIN GENETICS, INC.FINANCIAL HIGHLIGHTSBalance Sheet Data :   September 30,   December 31,20102009(Unaudited)Cash and cash equivalents

906,248Total current assets

,315,991Total assets$
3,069,463Total current liabilities

,834,091Total liabilities$
8,834,091Total shareholders' deficit

(5,764,628)Total liabilities  and shareholders' deficit

3,069,463Statement of Operations Data (Unaudited):Three Months Ended September 30, Nine Months Ended September 30, 2010200920102009Revenue:Genetic testing service revenue

352,130Contract research revenue

-198,203-520,935Other13,5935,37025,80520,274Total revenue544,744322,8821,486,406893,339Cost of revenue

409,010305,3031,254,033912,150Gross profit (loss)

135,73417,579232,373(18,811)Operating costs and expenses:Research and development

427,407873,1951,428,5232,628,943Selling, general and administrative

1,058,0621,660,2353,840,8064,473,860Amortization of intangibles

28,86328,86386,59086,590Total operating expenses

1,514,3322,562,2935,355,9197,189,393Loss from operations

(1,378,598)(2,544,714)(5,123,546)(7,208,204)Total other income and (expense), net

(63,545)(40,219)(177,371)(98,458)Loss from continuing operations before income taxes(1,442,143)(2,584,933)(5,300,917)(7,306,662)Income taxes----Loss from continuing operations

(7,306,662)Income (loss) from discontinued operations, net of  income taxes-40,661482,530(1,405,214)Net loss$
(8,711,876)Basic and diluted net loss per common share from:Continuing operations

(0.08)($0.15)($0.23)Discontinued operations


SOURCE Interleukin Genetics, Inc.
Copyright©2010 PR Newswire.
All rights reserved

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