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

he three months ended September 30, 2013 compared to $14.4 million for the three months ended September 30, 2012, a decrease of $3.6 million or 25%. The decrease is primarily the result of decreases in personnel expenses of $2.3 million and lab supplies of $0.6 million because of the elimination of certain positions due to improvements in production processes and the centralization of certain research and development functions to eliminate redundancies.

General and administrative expenses increased $2.4 million, or 47%, to $7.4 million for the three months ended September 30, 2013 compared to $5.0 million for the three months ended September 30, 2012 primarily due to increases in personnel expenses for new employees as Intrexon prepared to become a public company and also includes the cost of employees for AquaBounty Technologies, Inc. ("AquaBounty") since Intrexon began consolidating AquaBounty on March 15, 2013.  Legal and professional expenses increased $0.6 million for the three months ended September 30, 2013 compared to the three months ended September 30, 2012 due to the costs associated with Intrexon's initial public offering.

Total other income, net, is primarily composed of unrealized appreciation (depreciation) in fair value of equity securities which Intrexon  holds in certain of its collaborators and which was $27.3 million for the three months ended September 30, 2013 compared to $(3.9) million for the three months ended September 30, 2012, an increase of $31.2 million.

About Intrexon CorporationIntrexon Corporation (NYSE: XON) is a leader in synthetic biology focused on collaborating with companies in Health, Food, Energy and the Environment to create biologically-based products that improve the quality of life and the health of the planet.  Through the company's proprietary UltraVector® platform, Intrexon provides its p
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SOURCE Intrexon Corporation
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