WALTHAM, Mass., Nov. 12 /PRNewswire-FirstCall/ -- Interleukin Genetics, Inc. today announced financial and operational results for the third quarter ended September 30, 2009.
On September 23, 2009, we announced results from the weight management retrospective clinical study that demonstrated average weight loss of 6.2% (13.2 lbs) was achieved by individuals who were assigned to the genotype appropriate diets for 12 months versus 2.4% (4.6 lbs) for individuals assigned to inappropriate diets (p=0.013). The study also showed average percent change in waist circumference of 6.5% (2.6 inches) was achieved by individuals who were assigned to the genotype appropriate diets for 12 months versus 3.2% (1.2 inches) for individuals assigned to inappropriate diets (p=0.01).
Research and development expenses from continuing operations were $0.87 million for the three months ended September 30, 2009 compared to $0.93 million for the same period in the prior year. The slight decrease from 2008 to 2009 is primarily attributable to ongoing costs associated with our patent portfolio offset by lower consulting and clinical trial expenses.
The Company reported a net loss from continuing operations of $2.6 million, or $(0.08) per basic and diluted common share, for the third quarter of 2009, compared to a loss of $1.8 million, or $(0.06) for the same period in the prior year. On September 30, 2009, the Company had cash and cash equivalents of $1.4 million.
Presented Findings at IDF 20th World Diabetes Congress. In October, Interleukin Genetics presented findings that suggest genetic variations in the perilipin, IL-1, ADRB and MCR-4 genes may predispose to abnormal levels of blood lipids and therefore could have potential clinical utility in the management of obese patients.
Presented Findings at Obesity Society’s 27th Annual Meeting. In October, Interleukin Genetics presented findings which suggest genetic variations in perilipin, IL-1 and ADRB genes show strong association with resistance to weight loss under caloric restriction. These genetic risk markers could have important clinical utility in the medical management of obese patients and in the design of optimal weight loss programs.
Announced Partnership with Amway Global. In October, Interleukin Genetics announced an agreement with Amway Global that allows Amway’s Independent Business Owners to sell Interleukin Genetics’ Inherent Health brand of genetic tests.
About Interleukin Genetics
Interleukin Genetics, Inc. develops and markets genetic tests that empower consumers to prevent chronic diseases of aging and that assist pharmaceutical companies in the development and marketing of targeted therapeutics. The Company leverages its research, intellectual property, and biomarker development experience to facilitate the emerging personalized health market. Interleukin Genetics is headquartered in Waltham, MA. For more information please visit www.ilgenetics.com.
Interleukin Genetics, Inc.
