WALTHAM, Mass., Nov. 12 /PRNewswire-FirstCall/ -- Interleukin
Genetics, Inc. (NYSE Amex: ILI) today announced financial and
operational results for the third quarter ended September 30, 2009.
Lewis H. Bender, Chief Executive Officer, commented, "This quarter
the company has completed market research to understand the most
effective promotion and distribution channels to increase the sales
of our Inherent Health brand of genetic tests. We are implementing
what we learned to develop these channels. The most exciting
development in the third quarter was the results announced from the
clinical study conducted with our Weight Management test. Our data
showed that individuals can lose statistically significantly more
weight when using diets matched to their genotypes. The results
have now been submitted for presentation at an important upcoming
conference and a manuscript is being drafted. In addition, we
continue to explore use of our genetic biomarkers and tests for
drug development with potential partners." On September 23, 2009,
we announced results from the weight management retrospective
clinical study that demonstrated average weight loss of 6.2% (13.2
lbs) was achieved by individuals who were assigned to the genotype
appropriate diets for 12 months versus 2.4% (4.6 lbs) for
individuals assigned to inappropriate diets (p=0.013). The study
also showed average percent change in waist circumference of 6.5%
(2.6 inches) was achieved by individuals who were assigned to the
genotype appropriate diets for 12 months versus 3.2% (1.2 inches)
for individuals assigned to inappropriate diets (p=0.01). Revenue
from continuing operations for the three months ended September 30,
2009 was $0.3 million compared to $0.5 million for the same period
in the prior year. The decrease was primarily attributable to lower
contract research revenue. Genetic test revenue increased this
quarter over the same period in the prior year as we experience
positive growth in that segment of our business. Research and
development expenses from continuing operations were $0.87 million
for the three months ended September 30, 2009 compared to $0.93
million for the same period in the prior year. The slight decrease
from 2008 to 2009 is primarily attributable to ongoing costs
associated with our patent portfolio offset by lower consulting and
clinical trial expenses. Selling, general and administrative
expenses from continuing operations were $1.7 million for the three
months ended September 30, 2009, compared to $1.2 million for same
period in the prior year. The increase was primarily attributable
to product development costs associated with our new Inherent
Health(TM) brand of genetic tests offset by lower administrative
consulting expenses. The Company reported a net loss from
continuing operations of $2.6 million, or $(0.08) per basic and
diluted common share, for the third quarter of 2009, compared to a
loss of $1.8 million, or $(0.06) for the same period in the prior
year. On September 30, 2009, the Company had cash and cash
equivalents of $1.4 million. Q4 2009 Highlights to Date Presented
Findings at IDF 20th World Diabetes Congress. In October,
Interleukin Genetics presented findings that suggest genetic
variations in the perilipin, IL-1, ADRB and MCR-4 genes may
predispose to abnormal levels of blood lipids and therefore could
have potential clinical utility in the management of obese
patients. Presented Findings at American Society of Human Genetics
59th Annual Meeting. In October, Interleukin Genetics presented
findings that suggest variations in IL1B, VDR, and ESR1 genes may
indicate susceptibility for vertebral fracture or low bone mineral
density. Presented Findings at Obesity Society's 27th Annual
Meeting. In October, Interleukin Genetics presented findings which
suggest genetic variations in perilipin, IL-1 and ADRB genes show
strong association with resistance to weight loss under caloric
restriction. These genetic risk markers could have important
clinical utility in the medical management of obese patients and in
the design of optimal weight loss programs. Corporate Highlights
Announced Partnership with Amway Global. In October, Interleukin
Genetics announced an agreement with Amway Global that allows
Amway's Independent Business Owners to sell Interleukin Genetics'
Inherent Health brand of genetic tests. Conference Call and Webcast
Information Interleukin Genetics will host a live conference call
and webcast today at 4:30 p.m. EST to review the Company's new
business developments and third quarter financial results. To
access the live call, dial 888-287-5529 (domestic) or 719-325-2486
(international). The live webcast and replay access will be
available on the Investors section of the Company's website at
http://www.ilgenetics.com/. About Interleukin Genetics Interleukin
Genetics, Inc. (NYSE Amex: ILI) develops and markets genetic tests
that empower consumers to prevent chronic diseases of aging and
that assist pharmaceutical companies in the development and
marketing of targeted therapeutics. The Company leverages its
research, intellectual property, and biomarker development
experience to facilitate the emerging personalized health market.
Interleukin Genetics is headquartered in Waltham, MA. For more
information please visit http://www.ilgenetics.com/. Certain
statements contained herein are "forward-looking" statements
including statements regarding growth of the Company's genetic
testing business and the Company's ability to achieve compliance
with the NYSE Amex continued listing standards by December 31,
2009. Because such statements include risks and uncertainties,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Factors that could
cause actual results to differ materially from those expressed or
implied by such forward-looking statements include, but are not
limited to, the risk of market acceptance of the Company's
products, the risk of technology and product obsolescence, delays
in product development, the performance of commercial partners, the
availability of adequate capital, the actions of competitors and
other competitive risks, and those risks and uncertainties
described in the Company's annual report on Form 10-K for the year
ended December 31, 2008, quarterly reports on Form 10-Q and other
filings with the Securities and Exchange Commission. The Company
disclaims any obligation or intention to update these
forward-looking statements. INTERLEUKIN GENETICS, INC. AND
SUBSIDIARIES FINANCIAL HIGHLIGHTS Balance Sheet Data : 30-Sep
31-Dec 2009 2008 ---- ---- (Unaudited) (Audited) Cash and cash
equivalents $1,421,621 $4,952,481 Total current assets 1,861,053
6,866,284 Total assets $3,724,273 $12,154,388 Total current
liabilities $2,681,894 $3,666,961 Total liabilities 7,681,894
7,671,961 Total shareholders' equity (3,957,621) 4,482,427 Total
liabilities and shareholders' equity $3,724,273 $12,154,388
Statement of Operations Three Months Ended Nine Months Ended Data
(Unaudited): September 30, September 30, 2009 2008 2009 2008 ----
---- ---- ---- Revenue: Genetic testing service revenue $119,309
$102,782 $352,130 $295,527 Contract research revenue $198,203
441,467 $520,935 1,380,759 Other $5,370 1,345 $20,274 32,799 ------
----- ------- ------ Total revenue 322,882 545,594 893,339
1,709,085 ------- ------- ------- --------- Operating costs and
expenses: Cost of genetic testing services 305,303 235,795 912,150
679,037 Research and development 873,195 933,003 2,628,943
2,455,230 Selling, general and administrative 1,660,235 1,196,580
4,473,860 3,864,216 Amortization of intangibles 28,863 26,271
86,590 70,611 ------ ------ ------ ------ Total operating costs and
expenses 2,867,596 2,391,649 8,101,543 7,069,094 ---------
--------- --------- --------- Loss from operations (2,544,714)
(1,846,055) (7,208,204) (5,360,009) ---------- ----------
---------- ---------- Total other income and expense, net (40,219)
(11,820) (98,458) 50,656 ------- ------- ------- ------ Net loss
before income taxes (2,584,933) (1,857,875) (7,306,662) (5,309,353)
Benefit for income taxes - 37,000 - 31,000 --- ------ --- ------
Net loss from continuing operations $(2,584,933) $(1,820,875)
$(7,306,662) $(5,278,353) =========== =========== ===========
=========== Discontinued Operations: Profit (loss) from operations
of discontinued 40,661 187,026 (6,012) 115,557 Alan James Group
Business Loss on sale of discontinued - - (1,346,202) - Alan James
Group Business Provision for income taxes - (8,000) (53,000)
(20,500) --- ------ ------- ------- Profit (loss) on discontinued
operations $40,661 $179,026 $(1,405,214) $95,057 ------- --------
----------- ------- Net loss $(2,544,272) $(1,641,849) $(8,711,876)
$(5,183,296) =========== =========== =========== =========== Basic
and diluted net (loss) income per common share from: Continuing
operations ($0.08) ($0.06) ($0.23) ($0.17) ====== ====== ======
====== Discontinued operations - $0.01 ($0.04) - === ===== ======
=== Net loss ($0.08) ($0.05) ($0.27) ($0.17) ====== ====== ======
====== Weighted average common shares outstanding 32,059,258
31,792,999 31,975,953 31,204,196 ========== ========== ==========
========== DATASOURCE: Interleukin Genetics, Inc. CONTACT: Media:
Erin Walsh of Interleukin Genetics, +1-781-419-4707, Web Site:
http://www.ilgenetics.com/
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