Interleukin Genetics Q4 net loss decreases slightly to $1.47m

Interleukin Genetics, a genetics-focused personalized health company, has reported a net loss of $1.47m, or $0.05 per share, for the fourth quarter of 2008, compared to a net loss of $1.5m, or $0.05 per share, for the same period of 2007.

The company reported a net loss of $6.65m, or $0.21 per share, for the year ended December 31, 2008, compared to a net loss of $6.22m, or $0.22 per share, for 2007.

Revenue for the three months ended December 31, 2008 was $2.7m, compared to $2.3m for the same period in 2007. The increase is primarily due to increased research revenue and an increase in royalty revenue offset by a decrease in genetic testing revenue compared to the same period last year, the company said.

For the year ended December 31, 2008, the company reported revenues of $10m, compared to $9.7m for 2007. The revenue increase is primarily attributable to growth in consumer product revenue in combination with increased royalty and contract research revenue offset by a slight decrease in genetic testing revenue, according to Interleukin Genetics.

Lewis Bender, CEO of Interleukin Genetics, said: In 2008, we put an experienced staff in place to establish the company as a market leader in personalized healthcare and focus our business strategy on increasing revenue from our intellectual property. During the past year, we achieved milestones in several critical areas that support our goals of increasing genetic test and consumer product sales, as well as forming new partnerships.