NEW YORK (GenomeWeb News) – Interleukin Genetics today reported that its fourth-quarter revenues increased 13 percent, driven by a partnership with Amway.
The Waltham, Mass.-based genetic test maker had total revenues of $575,339 for the three-month period ended Dec. 31, compared to $510,767 for the fourth quarter of 2010. It said that its revenue came primarily from the sale of its Inherent Health genetic tests through the Amway global sales channel. That partnership dates back to October 2009.
Interleukin's net loss for the quarter was $1.4 million, or $.04 per share, compared to a net loss of $1.2 million, or $.03 per share, for Q4 2010.
Its R&D spending increased to $387,106 from $354,051 year over year, while its SG&A spending declined to $1.1 million from $1.3 million.
For full-year 2012, Interleukin's revenues climbed around 45 percent to $2.9 million from $2 million in 2011.
"Our genetic testing revenue has grown by more than forty percent this year over last year as we added new partnerships for distribution of our tests," Interleukin Genetics CEO Lewis Bender said in a statement. "In addition, our collaboration with Stanford University continued with an extension study whose results showed that the genetic patterns identified by our Weight Management Test can help individuals lose more weight when diets are selected based on genotype."
The firm also is developing a genetic test for periodontal disease risk.
Interleukin posted a net loss of $5 million, or $.14 per share, compared to a net loss of $6 million, or $.17 per share, for 2010.
Its R&D spending for the year was $1.4 million, flat with 2010, and its SG&A expenses declined to $4.7 million from $5.5 million.
Interleukin finished the year with $1.7 million in cash and cash equivalents.