-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UP78p2z3CugMuULF2f6UJR8RO9YTQwtMy+U76Ap4ThQP9QVDpJz6cOZg8HMtXy1X CPPJLgRmP2N/4xn3+W6dig== 0001104659-03-010708.txt : 20030519 0001104659-03-010708.hdr.sgml : 20030519 20030519164253 ACCESSION NUMBER: 0001104659-03-010708 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030513 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030519 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERLEUKIN GENETICS INC CENTRAL INDEX KEY: 0001037649 STANDARD INDUSTRIAL CLASSIFICATION: IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835] IRS NUMBER: 943123681 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-23413 FILM NUMBER: 03710797 BUSINESS ADDRESS: STREET 1: 135 BEAVER ST CITY: WATHAM STATE: MA ZIP: 02452 BUSINESS PHONE: 1-781-398-0700 MAIL ADDRESS: STREET 1: 135 BEAVER ST CITY: WATHAM STATE: MA ZIP: 02452 FORMER COMPANY: FORMER CONFORMED NAME: MEDICAL SCIENCE SYSTEMS INC DATE OF NAME CHANGE: 19971003 8-K/A 1 j1286_8ka.htm 8-K/A

 

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

Amendment No. 1 on

 

FORM 8-K/A

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d)

 

OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported):  May 13, 2003

 

INTERLEUKIN GENETICS, INC.

(Exact name of registrant as specified in its charter)

 

DELAWARE

 

000-23413

 

94-3123681

(State or other
jurisdiction of
incorporation)

 

(Commission
File Number)
94-3123681

 

(IRS Employer
Identification No.)

 

 

 

 

 

135 BEAVER STREET, WALTHAM, MA  02452

(Address of principal executive offices) (Zip Code)

 

 

 

 

 

Registrant’s telephone number, including area code: (781) 398-0700

 

 

 

 

 

Not Applicable

(Former name or former address, if changed since last report)

 

 



 

The purpose of this amendment to our Current Report on Form 8-K filed with the Securities Exchange Commission on May 13, 2003, is to change the Item under which the press release reporting our results for the quarter ended March 31, 2003 appears.

 

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

 

(c)

Exhibit

 

99.1

Press Release dated May 13, 2003

 

ITEM 9.  REGULATION FD DISCLOSURE (INFORMATION FILED PURSUANT TO ITEM 12, “RESULTS OF OPERATIONS AND FINANCIAL CONDITION”).

 

On May 13, 2003, Interleukin Genetics, Inc. publicly disseminated a press release reporting its results for the quarter ended March 31, 2003.  The information contained in the press release is incorporated herein by reference and filed as Exhibit 99.1 hereto.

 

This information filed under “Item 9. Regulation FD Disclosure” is intended to be filed under “Item 12. Results of Operations and Financial Condition” in accordance with SEC Release No. 33-8216.

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

 

INTERLEUKIN GENETICS, INC.

 

 

 

 

(Registrant)

 

Date:

May 19, 2003

 

/s/ Fenel M. Eloi

 

 

 

 

 

 

Fenel M. Eloi, Chief Operating Officer,
Chief Financial Officer, Treasurer and
Secretary and Treasurer

 

3



 

EXHIBIT INDEX

 

Exhibit
Number

 

Description

 

 

 

99.1

 

Press Release dated May 13, 2003

 

4


EX-99.1 3 j1286_ex99d1.htm EX-99.1

Exhibit 99.1

 

Interleukin Genetics Reports First Quarter Financial Results

 

WALTHAM, Mass.—(BUSINESS WIRE)—May 13, 2003—Interleukin Genetics, Inc. (OTCBB: ILGN) today reported financial results for the quarter ended March 31, 2003. For the quarter, the Company reported a net loss of $1,666,000 or $0.07 per basic and diluted share as compared to a net loss of $1,451,000 or $0.07 per basic and diluted share for the same period last year. Revenues for the quarter were $29,000 compared to $9,000 in the same quarter of 2002. This increase was primarily due to $17,000 in revenue from a single customer for genotyping services to this customer. The Company does not expect this revenue to be recurring. Research and development expenditures were $872,000 in the quarter ended March 31, 2003 compared to $928,000 in the comparable quarterly period ended March 31, 2002. The decrease was primarily the result of decreases in patent costs and market research expenses. Selling, general and administrative expenses were $693,000 for the three period ended March 31, 2003 compared to $542,000 during the same period last year. The increase in selling, general and administration costs were primarily the result of an increase in legal expenses related to the negotiation of a strategic alliance with affiliates of Alticor.

As of March 31, 2003, the Company reported total assets of $7,046,000, including $6,514,000 in cash and cash equivalents. The Company also reported total liabilities of $3,191,000 and shareholders’ equity of $3,855,000. On March 5, 2003, the Company announced that it entered into a broad strategic alliance with several affiliates of the Alticor family of companies to develop and market novel nutritional and skin care products. The alliance includes an initial $7,000,000 equity investment, with an additional $2,000,000 payment possible if we achieve a certain milestone, a two-year, $5,000,000 research and development agreement and a licensing agreement with royalties on any marketed products. The agreement also includes a working capital credit line of $1,500,000 and the deferment of outstanding loan repayment and the refinancing of bridge financing obligations. With this agreement the Company anticipates that it will have sufficient resources to conduct operations as planned into 2005.

 

About Interleukin

 

Interleukin Genetics is a biotechnology company focused on inflammation. The company uses functional genomics to develop diagnostic nutritional and therapeutic products based on the genetic variations in people to help prevent or treat diseases of inflammation. Interleukin’s TARxGET (Translating Advanced Research in Genomics into more Effective Therapeutics) programs focus on the areas of cardiovascular disease, osteoporosis, rheumatoid arthritis and alzheimer’s disease. We believe these products will personalize the selection of nutritional and therapeutic products and enable the managed care industry to improve patient care and better allocate resources. For more information about Interleukin and its ongoing programs, please visit http://www.ilgenetics.com Certain statements contained herein are “forward-looking” statements including statements regarding the development and marketing of novel nutritional and skin care products, royalties and milestone payments that we may receive, the availability of credit facilities, the sufficiency of resources to conduct planned operations into 2005 and our ability to develop diagnostic personalized nutritional and therapeutic products to prevent or treat diseases of inflammation and to enable the managed care industry to improve patient care and better allocate resources. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, our ability to develop diagnostic personalized nutritional and therapeutic products to prevent or treat diseases of inflammation and to enable the managed care industry to improve patient care and better allocate resources, our ability to market products, our ability to receive the $5.0 million in research and development payments, our ability to achieve the milestone that would result in an additional $2.0 million payment, our ability to receive advances against the $1.5 million working capital credit line, the actions of Alticor and affiliates, which have voting control of our common stock on most matters, including the efforts and success of Alticor and its affiliates in developing and marketing products for which we would receive a royalty, our ability to conduct planned operations into 2005, our ability to complete clinical research and data analysis, meeting our clinical studies’ endpoints, risk of market acceptance of our products, risk of technology and products obsolescence, delays in development of products, reliance on partners, competitive risks and those risks and uncertainties described in our Form 10-K for the year ended December 31, 2002, as filed on April 15, 2003, and in other filings made by us with the Securities and Exchange Commission. We disclaim any obligation or intention to update these forward-looking statements.

 

Interleukin Genetics, Inc.

Financial Highlights

(unaudited)

 

Balance sheet data

 

March 31,
2003

 

December 31,
2002

 

 

 

 

 

 

 

Cash, cash equivalents and marketable securities

 

$

6,514,228

 

$

733,848

 

Total current assets

 

6,649,588

 

836,988

 

Total assets

 

$

7,046,315

 

$

1,249,779

 

 

 

 

 

 

 

Total current liabilities

 

1,176,558

 

1,116,017

 

Total liabilities

 

3,191,209

 

2,634,339

 

 

 

 

 

 

 

Total shareholders’ equity

 

3,855,106

 

(1,384,560

)

 

 

 

 

 

 

Total liabilities and shareholders’ equity

 

$

7,046,315

 

$

1,249,779

 

 

 



 

Statement of operations data

 

Three Months
Ended
March 31,
2003

 

Three Months
Ended
March 31,
2002

 

 

 

 

 

 

 

Sales

 

$

28,738

 

$

9,012

 

Gross profit

 

11,856

 

8,862

 

Research and development

 

872,439

 

928,016

 

Selling, general, and administrative expense

 

692,712

 

542,466

 

 

 

 

 

 

 

Total operating expense

 

1,565,151

 

1,470,482

 

 

 

 

 

 

 

Loss from operations

 

(1,553,295

)

(1,461,620

)

 

 

 

 

 

 

Total other income and expense

 

(112,314

)

10,446

 

 

 

 

 

 

 

Net loss

 

$

(1,665,609

)

$

(1,451,174

)

 

 

 

 

 

 

Basic and diluted loss per share

 

$

(0.07

)

$

(0.07

)

Weighted average common shares outstanding

 

23,118,293

 

21,428,357

 

 

CONTACT: Interleukin Genetics

Fenel M. Eloi, 781/398-0700

 

 


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