Icagen, Inc. Reports First Quarter 2008 Financial Results

RESEARCH TRIANGLE PARK, N.C., May 8, 2008 (PRIME NEWSWIRE) -- Icagen, Inc. (Nasdaq:ICGN) reported today its financial results and operational highlights for the first quarter ended March 31, 2008. For the first quarter of 2008, the Company reported revenues of $3.0 million and a net loss of $3.6 million. As of March 31, 2008, the Company's cash and cash equivalents totaled $46.0 million.

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