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Intrexon Announces Third Quarter Financial Results
Date:11/7/2013

ed probiotics for the treatment of diseases of the oral cavity, throat, sinus and esophagus that will be designed to work orally rather than through the digestive system with a goal of increasing the probability of effective treatment outcomes.

In 2011, we entered into our first collaboration and have steadily increased the number over the past three years, entering into new agreements and expanding existing ECCs.  To date, we have entered into 17 such agreements and expansions with 14 different counterparties, of which 16 remain active.  We have 14 active ECCs, including one expansion, and two research collaborations that we anticipate could, if successful, become ECCs.  Under the ECCs, we are developing products in the fields of healthcare and food. In healthcare, our ECCs include programs in oncology, anti-infectives, antibiotics and tissue repair. In food, we are working to increase the productivity and nutritional value of salmon and other fish. We are also working to establish ECCs in the areas of energy and environmental sciences. 

Third Quarter 2013 Financial Results Compared to Prior Year PeriodTotal revenues were $6.1 million for the three months ended September 30, 2013 compared to $2.9 million for the three months ended September 30, 2012, an increase of $3.2 million, or 109.7%. The $3.1 million increase in collaboration revenue resulted primarily from the recognition of deferred revenue for upfront payments received from five collaborations signed by Intrexon between October 1, 2012 and September 30, 2013, as well as one milestone payment received in October 2012.  Revenues also increased as a result of research and development services the Company performed under these new agreements.  Research and development services revenue covered 28% and 12% of total operating expenses for the three months ended September 30, 2013 and 2012, respectively.

Research and development expenses were $10.8 million for t
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SOURCE Intrexon Corporation
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