Skip to main content
Premium Trial:

Request an Annual Quote

Interleukin Genetics Q4 Revenues Up 14 Percent

NEW YORK (GenomeWeb) – Interleukin Genetics reported a 14 percent increase in total revenues year-over-year for the fourth quarter of fiscal year 2015.

For the three months ended Dec. 31, the Waltham, Massachusetts-based diagnostics firm said revenues increased to $365,648, up from $322,005 a year ago.

"We focused on developing and executing a significantly updated strategic and operational plan centered on the medical value of our genetic test, PerioPredict," Interleukin CEO Mark Carbeau said in a statement.

Interleukin's Q4 net loss widened to $1.9 million, or $.01 per share, compared to $1.6 million or $.01 per share in Q4 2014.

The firm's R&D spending rose 82 percent to $320,571 up from $176,264 in the prior-year period while SG&A spending fell 14 percent to $1.2 million from $1.4 million in Q4 2014. The company attributed the rise in R&D spending and the dip in SG&A expenses to a greater compensation expense related to President and CSO Ken Kornman moving to the R&D department from G&A in 2015.

Total revenues for FY 2015 fell 22 percent to $1.4 million from $1.8 million in 2014. Interleukin attributed the decline in yearly revenues to a decrease in the number of kits returned for processing related to a promotional product bundle program with Access Business Group.

The firm's net loss for the year widened to $7.9 million, or $.05 per share, from $6.3 million, or $.05 per share, a year ago.

Interleukin's R&D spending jumped 54 percent to $1.3 million, up from $843,102 in 2014, and its SG&A spending inched up less than 2 percent to $5.9 million from $5.8 million in 2014. The company again attributed the R&D spending increase to Kornman's move within the company, and said SG&A in 2015 was affected by severance for the former chief marketing officer, recruiting fees for the new chief executive officer, and the search for a new chief commercial officer.

The firm ended the quarter with $4.7 million in cash and cash equivalents.

In afternoon trading on over-the-counter markets, shares of Interleukin were flat at $.08.

The Scan

Machine Learning Helps ID Molecular Mechanisms of Pancreatic Islet Beta Cell Subtypes in Type 2 Diabetes

The approach helps overcome limitations of previous studies that had investigated the molecular mechanisms of pancreatic islet beta cells, the authors write in their Nature Genetics paper.

Culture-Based Methods, Shotgun Sequencing Reveal Transmission of Bifidobacterium Strains From Mothers to Infants

In a Nature Communications study, culture-based approaches along with shotgun sequencing give a better picture of the microbial strains transmitted from mothers to infants.

Microbial Communities Can Help Trees Adapt to Changing Climates

Tree seedlings that were inoculated with microbes from dry, warm, or cold sites could better survive drought, heat, and cold stress, according to a study in Science.

A Combination of Genetics and Environment Causes Cleft Lip

In a study published in Nature Communications, researchers investigate what combination of genetic and environmental factors come into play to cause cleft lip/palate.