Icagen, Inc. Reports Fourth Quarter And Full Year 2005 Financial Results

RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--March 1, 2006--Icagen, Inc. (NASDAQ: ICGN) reported today its financial results for the fourth quarter and year ended December 31, 2005. For the fourth quarter of 2005, the Company reported revenues of $2.7 million and a net loss of $5.3 million. For the year ended December 31, 2005, the Company reported revenues of $8.8 million and a net loss of $20.2 million. As of December 31, 2005, cash and cash equivalents totaled $47.8 million.