Introgen fourth-quarter revenues down by almost half, year-end loss at $26.1 million

By Lisa Kerner

Erie, Pa., March 15 - Introgen Therapeutics, Inc. reported fourth-quarter 2005 financial results it said are in line with expectations.

The company also reported financial results for the year ended Dec. 31, noting progress in its research and development and clinical trial programs.

During the quarter ended Dec. 31, Introgen used cash, cash equivalents and short-term investments of $5.1 million to conduct its operations, according to a company news release.

Revenue was $624,000 for the fourth quarter, down from revenue of $1.2 million for the same period in 2004.

Introgen reported a net loss of $6.7 million, or $0.19 per share, for the quarter. For the comparable quarter in 2004, the company reported a net loss of $4.4 million, or $0.16 per share.

For the year, Introgen had a net loss of $26.1 million, or $0.80 per share, compared with a net loss of $24.4 million, or $0.91 per share, in 2004.

Revenue for the year rose to $1.9 million from $1.8 million in 2004.

Cash, cash equivalents, marketable securities and short-term investments were $36 million at Dec. 31.

Located in Austin, Texas, Introgen is a biopharmaceutical company focused on the discovery, development and commercialization of targeted molecular therapies for the treatment of cancer and other diseases.

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