NEW YORK--(BUSINESS WIRE)--Feb. 23, 2006--Antigenics Inc. (NASDAQ: AGEN) today reported financial results and operating highlights for the quarter and year ended December 31, 2005. For the three months ended December 31, 2005, the company incurred a net loss attributable to common stockholders of $17.9 million, or $0.39 per share, basic and diluted, compared with a net loss attributable to common stockholders of $17.6 million, or $0.39 per share, basic and diluted, for the same period in 2004. For the year ended December 31, 2005, Antigenics incurred a net loss attributable to common stockholders of $74.9 million, or $1.64 per share, basic and diluted, compared with a net loss attributable to common stockholders of $57.0 million, or $1.27 per share, basic and diluted, for the same period in 2004. The increase in net loss from continuing operations reflects the costs to advance development of the company’s product candidates, including Oncophage(R) (vitespen; formerly HSPPC-96), Antigenics’ lead product candidate, as well as costs associated with other clinical and development projects. The increase in net loss attributable to common stockholders compared with that in 2004 is primarily attributable to the gain on the sale to Virbac S.A. during 2004, of our manufacturing rights for feline leukemia vaccine, as well as increased research and development expenses associated with our clinical programs during 2005. Cash, cash equivalents and short-term investments amounted to $61.7 million on December 31, 2005.
