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AUSTIN, TX--(MARKET WIRE)--Mar 14, 2005 -- Introgen announced today its results for the quarter and year ended December 31, 2004, reporting progress during these periods in its research and development programs, clinical trial programs and regulatory milestones.
Introgen reported a net loss of $4.4 million, or $0.16 per share, for the quarter ended December 31, 2004. These results compare to a net loss of $7.0 million, or $0.26 per share, for the previous quarter ended September 30, 2004 and a net loss of $5.4 million, or $0.21 per share, for the comparable prior year quarter ended December 31, 2003.
During the quarter ended December 31, 2004, cash, cash equivalents and short-term investments increased $17.4 million as a result of net proceeds of $22.9 million from the sale of common stock during the quarter, offset by $5.7 million used to fund operations during the quarter. At December 31, 2004, Introgen had cash, cash equivalents and short-term investments of $38.2 million.
Revenue was $1.2 million for the quarter ended December 31, 2004, compared to revenue of $2,000 for the quarter ended December 31, 2003. Operating expenses were $5.8 million for the quarter ended December 31, 2004, compared to $7.4 million for the quarter ended September 30, 2004 and $5.6 million for the quarter ended December 31, 2003.
For the year ended December 31, 2004, Introgen reported a net loss of $24.4 million, or $0.91 per share, compared to a net loss for the year ended December 31, 2003 of $19.3 million, or $0.84 per share. Revenue for the year ended December 31, 2004 was $1.8 million, compared to revenue for the year ended December 31, 2003 of $0.3 million. Operating expenses were $27.1 million for the year ended December 31, 2004 compared to $21.1 million for the year ended December 31, 2003.
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