Icagen, Inc. Reports Fourth Quarter and Full Year 2009 Financial Results and Operational Highlights

RESEARCH TRIANGLE PARK, N.C., March 30, 2010 (GLOBE NEWSWIRE) -- Icagen, Inc. (Nasdaq:ICGN) reported today its financial results and operational highlights for the fourth quarter and full year ended December 31, 2009. For the fourth quarter of 2009, the Company reported revenues of $1.4 million and a net loss of $3.3 million. For the full year 2009, the Company reported revenues of $9.6 million and a net loss of $12.8 million. As of December 31, 2009, the Company's cash and cash equivalents totaled $18.1 million.