Introgen Therapeutics Reports First Quarter 2006 Financial Results in Line With Expectations
Wednesday May 10, 3:00 pm ET
Conference Call Will Provide New ADVEXIN Clinical Data and Regulatory Update
AUSTIN, Texas, May 10 /PRNewswire-FirstCall/ -- Introgen Therapeutics, announced today its results for the 1stQ ended March 31, 2006, reporting progress during the period in its research and development and clinical trial programs.
During the quarter Introgen used cash, cash equivalents and short-term investments of $5.7M to conduct its operations. Introgen's cash, cash equivalents, marketable securities and short-term investments were $30.1M at March 31, 2006.
Revenue was $225,000 compared to $509,000 for the 1stQ in 2005
The net loss was $8.2M, or $0.22/shr, compared to a net loss of $6.7M, or $0.19/shr for the previous quarter and a net loss of $6.2M, or $0.20/shr in 2005.
New ADVEXIN Data
During the conference call Introgen will present new data from its ADVEXIN clinical trials in recurrent head and neck cancer showing that ADVEXIN therapy was correlated with statistically significant increased durable tumor growth control and survival in this poor prognostic group of patients.
In recurrent head and neck cancer, an abnormal p53 pathway detected by high p53 levels in tumor tissue is associated with a poor prognosis to standard therapy. In ADVEXIN Phase 2 clinical trials, this biomarker of abnormal p53 function identified patients most likely to benefit from ADVEXIN treatment that restores p53 pathway activity.
New Developments Discussed
Introgen will discuss other recent developments and announcements, including its decision to make ADVEXIN therapy available on a compassionate use basis for patients with Li-Fraumeni Syndrome cancers. Li-Fraumeni Syndrome (LFS) is an inherited genetic disorder that greatly increases the risk of developing several types of cancer typically with initial occurrence at a young age. The majority of LFS families have inherited mutations in the p53 tumor suppressor gene. The treatment of Li-Fraumeni tumors with ADVEXIN p53 represents therapy targeted to the molecular defect underlying the cause and progression of these malignancies. Cancers resulting from this syndrome are due to abnormal p53 function that is directly addressed by ADVEXIN's mechanisms of action.
FDA News Release
During the conference call reference will be made to an FDA announcement made during the reporting quarter. The referenced FDA document can be accessed online at:
fda.gov
The company will also discuss filings for European registration of ADVEXIN under European Medicines Evaluation Agency (EMEA) Exceptional Approval provisions. These submissions are being made by Gendux, AB, Introgen's wholly owned subsidiary based in Stockholm, Sweden.
Quarterly Conference Call
Introgen has scheduled a conference call to discuss its financial results at 4:30 p.m. Eastern Standard Time today.
Introgen invites interested investors to listen to the call and view the accompanying slide presentation, descriptive of portions of the clinical data discussion, which will be carried live on its Web site at introgen.com .
Those who wish to participate should log on several minutes before the discussion begins. After clicking on the presentation icon, investors should follow the instructions to ensure their systems are set up to hear the event and view the presentation slides, or download the correct applications at no charge.
The call may also be accessed by dialing 1-877-616-4476 or 1-706-679-7372. For those unable to listen to the broadcast the call will be archived on Introgen's website. |
