Xcyte Therapies, Inc. Announces Full-Year And Fourth Quarter 2005 Financial Results
3/23/2006 12:41:37 PM
SEATTLE--(BUSINESS WIRE)--March 22, 2006--Xcyte Therapies, Inc. (Xcyte, the "Company") (Nasdaq:XCYT)(Nasdaq:XCYTP) reported today a net loss applicable to common shareholders of $29.4 million, or $1.50 per basic and diluted share, for the year ended December 31, 2005, compared with $48.6 million, or $3.90 per basic and diluted share for the year ended December 31, 2004. Revenue during 2005 totaled approximately $813,000 compared with approximately $62,000 during 2004. Total operating expenses were $30.5 million for the year ended December 31, 2005, compared with $26.6 million for the year earlier period. Research and development expenses were $13.8 million and $19.7 million in 2005 and 2004, respectively, while general and administrative expenses were $9.7 million and $6.9 million in the same periods. Total operating expenses for 2005 included a provision for asset impairment and other restructuring costs associated with the discontinuation of clinical development of Xcellerated T Cells and workforce reductions.