LEXINGTON, Mass., Oct. 28, 2010 (GLOBE NEWSWIRE) -- Antigenics Inc. (Nasdaq:AGEN) reported today its results for the quarter ended September 30, 2010. The company incurred a net loss attributable to common stockholders of $5.9 million, or $0.06 per share, basic and diluted, for the third quarter of 2010, compared with a net loss attributable to common stockholders of $10.8 million, or $0.13 per share, basic and diluted, in the third quarter of 2009. For the nine months ended September 30, 2010, the company incurred a net loss attributable to common stockholders of $20.1 million, or $0.21 per share, basic and diluted, compared with a net loss attributable to common stockholders of $32.8 million, or $0.43 per share, basic and diluted, for the comparable period in 2009. The company’s net cash burn (cash used in operating activities plus capital expenditures and dividend payments) for the three months ended September 30, 2010 and 2009 was $4.4 million and $5.8 million, respectively. The company’s net cash burn for the nine months ended September 30, 2010 and 2009 was $14.0 million and $21.3 million, respectively. The 2010 results primarily reflect the company’s continuing support of Oncophage® vaccine as well as its cost containment efforts. Cash, cash equivalents, and short-term investments were $24.4 million as of September 30, 2010.
