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

trial for multiple myeloma
  • Richard Dondero, Vice President of Research & Development at Senesco, delivered the Company's corporate presentation at the 11th Annual Rodman & Renshaw Healthcare Conference
  • "SNS-01 continues to demonstrate potential as a possible treatment for multiple myeloma, most recently being the subject of a poster presentation at one of the most important oncology conferences of the year, the annual AACR-NCI-EORTC Conference," said Jack Van Hulst, President and Chief Executive Officer of Senesco.

    The Company did not record any revenue for the three month period ended September 30, 2009. Total revenues of $200,000 for the three month period ended September 30, 2008 consisted of a milestone payment in connection with an agricultural license agreement.

    Research and development expenses during the three month period ended September 30, 2009 were $575,291, compared with $504,386 during the three month period ended September 30, 2008, an increase of 14.1%. This increase was primarily a result of an $89,000 loss on the extinguishment of debt in connection with the issuance of common stock and warrants to Cato Holding Company in exchange for debt that was owed by Senesco to Cato Research Ltd. in the amount of $175,000, which was slightly offset by decrease in the cost of the research performed at the University of Waterloo as a result of the stronger U.S. dollar against the Canadian dollar.

    General and administrative expenses were $494,955 for the three month period ended September 30, 2009, compared with $529,865 during the three month period ended September 30, 2008, a decrease of 6.6%. This decrease was due primarily to a $34,000 decrease in stock based compensation, and a $20,000 decrease in professional fees, which were a result of a decrease in legal and accounting fees related to the review of our securities filings. These decreases were slightly offset by a $15,000 i
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    SOURCE Senesco Technologies, Inc.
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