NEW YORK--(BUSINESS WIRE)--April 26, 2005--ImClone Systems Incorporated (NASDAQ: IMCL) announced today its financial results for the first quarter ended March 31, 2005. Total revenues for the first quarter of 2005 were $85.8 million as compared with $110.2 million for the first quarter of 2004. The first quarter of 2004 included a one-time “catch-up” amortization effect of approximately $43 million associated with the $250 million milestone payment received last year. Revenues include four principal components: -- License fees and milestone revenue of $24.5 million in the first quarter of 2005 compared with $67.5 million in the first quarter of 2004. The decline is attributable to the above-mentioned “catch-up” amortization effect;
