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Xcyte Therapies, Inc. Announces Third Quarter 2005 Financial Results



11/14/2005 1:00:58 PM

SEATTLE--(BUSINESS WIRE)--Nov. 14, 2005--Xcyte Therapies, Inc. (Xcyte, the "Company") (Nasdaq:XCYT) (Nasdaq:XCYTP) reported today a net loss of $12.6 million, or $0.64 per basic and diluted share, for the three months ended September 30, 2005, compared with a net loss of $6.8 million, or $0.46 per basic and diluted share, for the three months ended September 30, 2004. Revenue for the third quarter of 2005 was approximately $11,000, compared with approximately $13,000 for the year earlier quarter. Total operating expenses for the three months ended September 30, 2005, were $12.7 million, compared with $6.9 million for the three months ended September 30, 2004. The increase in total operating expenses was primarily the result of a provision for asset impairment, other restructuring charges and termination benefits, partially offset by reduced research and development expenses.

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