NAPA, California, May 15 /PRNewswire/ --
Senetek PLC (OTC Bulletin Board: SNKTY), a Life Sciences company engaged in the development of technologies that target the science of healthy aging, announced results for the quarter ended March 31, 2009.
Revenue for the quarter ended March 31, 2009 was US$461,000, compared with US$230,000 reported in the fourth quarter of 2008 and US$441,000 reported in the first quarter of 2008.
Revenues from Pyratine product sales in the first quarter of 2009 were US$93,000 compared to US$43,000 and US$89,000 in the fourth quarter of 2008 and the first quarter of 2008, respectively. Pyratine XR(TM), launched in March 2009 made a limited contribution to first quarter 2009 sales due to the timing of the product launch.
Royalty revenue on sales of monoclonal antibodies totaled US$323,000 in the first quarter of 2009 compared to US$145,000 and US$279,000 in the fourth quarter of 2008 and the first quarter of 2008, respectively.
Revenues in the first quarter of 2008 included US$30,000 in product sales of Kinetin raw material and formulated products. Other quarterly sources of revenues were comparable between the first quarter of 2009 and the fourth and first quarters of 2008.
Net loss for the quarter ended March 31, 2009 totaled US$1,147,000 or US$0.15 per diluted share compared to a net loss of US$1,209,000 or US$0.16 per diluted share for the quarter ended December 31, 2008 and a net loss of US$1,757,000 or US$0.23 per diluted share for the quarter ended March 31, 2008.
In March, the Company launched Pyratine XR(TM) at the 67th Annual Meeting of the American Academy of Dermatology. In one rosacea specific study performed at the University of California, Irvine, data demonstrated that Pyratine XR(TM) showed continual improvement for all of the major symptoms of rosacea - redness, lesions and spider veins - throughout the entire course of a 48 week treatment period. This suggests that Pyratine XR(TM) may offer important advantages over currently available treatments for rosacea, many of which have issues with long-term tolerability. Since rosacea is a chronic condition that often requires extended treatment periods with topical agents that can cause high skin sensitivity, treatments that provide sustained relief of the signs and symptoms of rosacea are needed.
About Senetek PLC:
Senetek PLC (OTCBB:SNKTY) is a life sciences company engaged in the development of breakthrough technologies that target the science of healthy aging. The company's extensive research collaborations have resulted in a strong pipeline of patented compounds and products with broad therapeutic applications and a leading presence in dermatology. Senetek collaborates with established specialty pharmaceutical companies in the final development and marketing of its proprietary products, most recently resulting in the development of kinetin, the best-selling anti-aging product sold in the North American physician market. For more information, visit the company's websites www.senetekplc.com
This news release contains statements that may be considered 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements by their nature involve substantial uncertainty, and actual results may differ materially from those that might be suggested by such statements. Important factors identified by the Company that it believes could result in such material differences are described in the Company's Annual Report on Form 10-K for the year 2008. However, the Company necessarily can give no assurance that it has identified or will identify all of the factors that may result in any particular forward-looking statement materially differing from actual results, and the Company assumes no obligation to correct or update any forward-looking statements which may prove to be inaccurate, whether as a result of new information, future events or otherwise.
William O'Kelly of Senetek, PLC, +1-707-226-3900, ext. 102, or Maggie Carr, firstname.lastname@example.org, or Michael Rogers, email@example.com, both of Michael Rogers Public Relations, +1-212-255-7210, ext. 22