-----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, QSqMpaFBc4MAcaLAPK3jrO8jIOB4HN1D6i08uiPsSimYBKd0dENGdRmTSTTcbkYJ ALlnZv6t4I+AM4l1Wlaw7Q== 0001157523-03-006512.txt : 20031112 0001157523-03-006512.hdr.sgml : 20031111 20031112075930 ACCESSION NUMBER: 0001157523-03-006512 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031111 ITEM INFORMATION: FILED AS OF DATE: 20031112 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 SEC ACT: 1934 Act SEC FILE NUMBER: 000-23413 FILM NUMBER: 03990529 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 1 a4512976.txt INTERLEUKIN 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ______________ Date of Report (Date of earliest event reported): November 11, 2003 ----------------- Interleukin Genetics, Inc. (Exact name of registrant as specified in its charter) Delaware 000-23413 94-3123681 - ------------------------ ------------------- ------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 94-3123681 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) Item 12. Disclosure of Results of Operations and Financial Condition. The following exhibits are furnished with this report: Exhibit Number Description - -------------- ----------- 99.1 Press Release dated November 11, 2003. On November 11, 2003, the Registrant issued a press release to report its financial results for the quarter ended June 30, 2003. A copy of the press release is attached to this current report on Form 8-K as Exhibit 99.1. 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: November 11, 2003 /s/s Fenel M. Eloi ----------------------------- Fenel M. Eloi Chief Operating Officer, Chief Financial Officer, Treasurer and Secretary EXHIBIT INDEX Exhibit Sequential Number Description Page Number 99.1 The Registrant's Press Release 5 dated November 11, 2003 EX-99 3 a4512976_ex991.txt INTERLEUKIN EXHIBIT 99.1 Exhibit 99.1 Interleukin Genetics Reports Third Quarter Financial Results WALTHAM, Mass.--(BUSINESS WIRE)--Nov. 11, 2003--Interleukin Genetics, Inc. (OTCBB: ILGN) a leader in the development of DNA testing products to help identify risk for diseases in which inflammation plays a key role today reported financial results for the quarter ended September 30, 2003. Third Quarter Financial Results: Revenues for the quarter were $634,000 compared to $80,000 in the third quarter of 2002. In 2003 the revenue included $625,000 in research revenue and approximately $5,000 from test revenue. Approximately $9,000 of the 2002 revenue was test revenue. The increase in revenue was due to $625,000 in revenue from our research agreement with an affiliate of Alticor. Research and development expense decreased to $374,000 during the three months ended September 30, 2003 from $717,000 for the same quarter in 2002. This decrease was primarily the result of reallocating resources from internally-funded research projects to the research projects funded by Alticor whose costs are included in costs of revenue and also a decrease in the number of external research projects being funded by us. Selling, general and administrative expenses decreased approximately 26% to $482,000 for the quarter from $653,000 during the same period last year. This decrease was primarily the result of higher legal expenses incurred in 2002 related to financing activities in that year. For the quarter, the company reported a net loss of $767,000 or $.03 per basic and diluted share as compared to a net loss of $1,364,000 or $.06 per basic and diluted share for the same period last year. As of September 30, 2003, the company reported cash and cash equivalents of $5,071,000 as compared with $734,000 at December 31, 2002. "We continue to be very excited about our strategic alliance with Alticor." Stated Dr. Philip Reilly, Chief Executive Officer of the company. "This alliance has provided us with a foothold in the developing Personalized Nutrition market and has given us access to a world-wide distribution network through which to sell our predictive testing products." For the nine months ended September 30, 2003, the Company reported revenues of $1,295,000 and net loss of $3,381,000 or $0.15 per share as compared to revenues of $102,000 and net loss of $4,226,000 or $0.20 per share for the same period last year. About Interleukin Interleukin Genetics is a biotechnology company focused on inflammation. The company uses functional genomics to help in the development of 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. Interleukin expects that these programs will produce products that 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 research revenues, royalties and an equity milestone payments that we may receive, the availability of credit facilities, the sufficiency of current and anticipated resources to conduct planned operations into 2005, our ability to sell our products through Alticor's world-wide distribution network, 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 $5 million in revenue from over the 24 month period ending March 2005, our ability to achieve the milestone that would result in an additional $2.0 million equity milestone 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-Q for the three months ended June 30, 2003, as filed on August 11, 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 September 30, 2003 December 31, 2002 Cash , cash equivalents and marketable securities $ 5,017,324 $ 733,848 Total current assets 5,157,143 836,988 Total assets $5,607,193 $1,249,779 Total current liabilities 658,279 1,116,017 Total liabilities 3,277,843 2,634,339 Total shareholders' equity 2,329,350 (1,384,560) Total liabilities and shareholders' equity $5,607,193 $1,249,779 Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended Statement of September September September September operations data 30, 2003 30, 2002 30, 2003 30, 2002 Sales $633,785 $79,677 $1,295,432 $102,229 Gross profit 140,212 79,571 402,522 101,788 Research and development 374,362 716,964 1,722,676 2,504,132 Selling, general, and administrative expense 481,935 652,637 1,778,088 1,764,343 Total operating expenses 856,297 1,369,601 3,500,764 4,268,475 Loss from operations (716,085) (1,290,030) (3,098,242) (4,166,687) Total other income (expense) (51,207) (73,497) (282,795) (59,312) Net loss $(767,292) $(1,363,527) $(3,381,037 $(4,225,999) Basic and diluted loss per share $(0.03) $(0.06) $(0.15) $(0.20) Weighted average common shares outstanding 23,236,630 21,436,231 23,172,176 21,431,558 CONTACT: Interleukin Genetics, Inc. Fenel M. Eloi, 781-398-0700 -----END PRIVACY-ENHANCED MESSAGE-----