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Senesco Technologies Reports First Quarter Fiscal 2010 Financial Results
Date:11/17/2009

NEW BRUNSWICK, N.J., Nov. 17 /PRNewswire-FirstCall/ -- Senesco Technologies, Inc. ("Senesco" or the "Company") (NYSE Amex: SNT) today reported financial results for the three months ended September 30, 2009.

Net loss for the three month period ended September 30, 2009 was $189,296, or $0.01 per share, compared with a net loss of $1,181,406, or $0.06 per share, for the three month period ended September 30, 2008. This decrease in net loss was primarily the result of an increase in non-cash income related to the change in fair value of a warrant liability, which was partially offset by an increase in operating expenses and non-cash expenses associated with the outstanding convertible notes and a decrease in revenue and interest income.

Quarterly and Recent Highlights

  • Senesco presented pre-clinical stability and biological activity data on multiple myeloma drug candidate SNS-01 at the 2009 American Association for Cancer Research (AACR)-National Cancer Institute (NCI)-European Organization for Research and Treatment of Cancer (EORTC) Molecular Targets and Cancer Therapeutics Conference
  • Certain Senesco insiders entered into definitive stock purchase agreements to purchase all of the convertible debentures, warrants and common stock which are held by Stanford Venture Capital Holdings, Inc. and/or Stanford International Bank, Ltd.
  • Senesco entered into separate funding agreements, totaling $1.7 million, with Partlet Holdings Ltd., certain members of Senesco's Board of Directors and certain accredited investors, including Cato Holding Company, which is the venture capital affiliate of Cato Research Ltd., a global contract research and development organization currently assisting Senesco with its SNS-01 development program; with the emphasis on initiating a Phase I clinical
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SOURCE Senesco Technologies, Inc.
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