Icagen, Inc. Reports Second Quarter 2010 Financial Results

RESEARCH TRIANGLE PARK, N.C., Aug. 10, 2010 (GLOBE NEWSWIRE) -- Icagen, Inc. (Nasdaq:ICGN) reported today its financial results and operational highlights for the second quarter ended June 30, 2010. For the second quarter of 2010, the Company reported revenues of $2.3 million and a net loss of $2.2 million. As of June 30, 2010, the Company's cash and cash equivalents totaled $12.4 million, not including payments to the Company totaling $3.0 million expected during the third quarter as a result of the achievement of certain milestones under the Company's collaboration with Pfizer.

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