-----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, NL30JIXPE/v3hbQjm9pct8r7Wi9Jr0ztGqggSYiSZ+/XBNfOna2kVpLLIphmiqrx /OgswEpbnWAUtcPtaaRAkg== 0001157523-04-010246.txt : 20041103 0001157523-04-010246.hdr.sgml : 20041103 20041103080032 ACCESSION NUMBER: 0001157523-04-010246 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041103 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041103 DATE AS OF CHANGE: 20041103 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: 041114787 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 a4756878.txt INTERLEUKIN GENETICS 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 3, 2004 --------------------------- Interleukin Genetics, Inc. - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in Its Charter) Delaware - -------------------------------------------------------------------------------- (State or Other Jurisdiction of Incorporation) 000-23413 94-3123681 - -------------------------------------------------------------------------------- (Commission File Number) (IRS Employer Identification No.) 135 Beaver Street Waltham, MA 02452 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) (781) 398-0700 - -------------------------------------------------------------------------------- (Registrant's Telephone Number, Including Area Code) - -------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): |_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 2.02 Results of Operations and Financial Condition. On November 3, 2004, the Registrant issued a press release to report its financial results for the quarter ended September 30, 2004. A copy of the press release is attached hereto as Exhibit 99.1, which is incorporated in this Item 2.02 by reference. Item 9.01 Financial Statements and Exhibits. (c) Exhibits. Exhibit No. Description - ---------- ----------- 99.1 Press Release dated November 3, 2004. SIGNATURE 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 3, 2004 /s/ Fenel M. Eloi ----------------------------- Fenel M. Eloi Chief Operating Officer, Chief Financial Officer, Treasurer and Secretary EX-99.1 2 a4756878ex991.txt EXHIBIT 99.1 Exhibit 99.1 Interleukin Genetics Reports Third Quarter Financial Results WALTHAM, Mass.--(BUSINESS WIRE)--Nov. 3, 2004--Interleukin Genetics, Inc. (OTCBB: ILGN) a leader in the development of personalized health products, today reported revenue of $1,400,000 and a net loss of $373,000 or $0.02 per basic and diluted share, for the quarter ended September 30, 2004. Financial Results: Revenue for the quarter was $1,400,000 compared to $634,000 in the same quarter of 2003. The increase is primarily the result of $690,000 of revenue from a new research project on weight management with Alticor entered into in June 2004. Both periods include $625,000 in research funding related to the research agreement with Alticor entered into in March 2003. For the quarter, the Company reported a net loss of $373,000, or $0.02 per basic and diluted share, as compared to a net loss of $767,000, or $0.03 per basic and diluted share, for the same period last year. Research and development expenditures were $256,000 in the quarter ended September 30, 2004 compared to $374,000 in the comparable quarterly period ended September 30, 2003. The decrease in R&D expenses reflects a re-allocation of internal resources from internally-funded projects to the research projects funded by Alticor. Those reallocated costs are now reported as cost of revenue. Selling, general and administrative expenses were $667,000 for the quarter ended September 30, 2004 compared to $482,000 during the same period last year. The increase is primarily the result of the Company adding the appropriate infrastructure in its efforts to develop other markets for its products and building a CLIA laboratory. As of September 30, 2004, the Company reported total assets of $7,164,000, including $5,507,000 in cash and cash equivalents as compared to total assets of $5,458,000 including $4,759,000 in cash and cash equivalents as of December 31, 2003. The increase in cash reflects the $2,000,000 milestone payment received from Alticor in March 2004. For the nine months ended September 30, 2004, the Company reported revenue of $2,709,000 and a net loss of $2,222,000 or $0.09 per share compared to revenue of $1,295,000 and a net loss of $3,381,000 or $0.15 per share for the same period last year. About Interleukin Interleukin Genetics is a biotechnology company focused on developing personalized health products. The company uses functional genomics to help in the development of risk assessment tests, pharmacogenetic tests, nutritional and therapeutic products based on the genetic variations in people. Interleukin's current programs focus on cardiovascular disease, osteoporosis, rheumatoid arthritis, endometriosis, periodontal disease and weight management. Interleukin expects that these programs will lead to 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 our ability to develop diagnostic, personalized nutritional and therapeutic products to prevent or treat diseases of inflammation and other genetic variations, our ability to screen nutritional compounds for their effects on inflammatory responses and other genetic variations, given specific genetic patterns and our ability to make progress in advancing our core technologies. 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 other genetic variations, our ability to screen nutritional compounds for their effects on inflammatory responses and other genetic variations, given specific genetic patterns, our ability to construct a DNA testing laboratory, our ability to complete all of our key milestones with regard to Alticor programs, our ability to make progress in advancing our core technologies and our ability to launch new commercial products and those risks and uncertainties described in our annual report on Form 10-K, our quarterly reports on Form 10-Q 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 Sept. 30, Dec. 31, Balance sheet data 2004 2003 - ------------------ (Unaudited) (Audited) Cash, cash equivalents and marketable securities $5,506,990 $4,759,453 Total current assets 6,003,379 4,997,408 Total assets $7,164,026 $5,458,442 Total current liabilities $2,587,514 $1,288,104 Total liabilities 5,188,754 3,900,730 Total shareholders' equity 1,975,272 1,557,712 Total liabilities and shareholders' equity $7,164,026 $5,458,442 Statement of Three Months Ended Nine Months Ended operations September 30, September 30, data 2004 2003 2004 2003 - --------------- ------------- ------------- ------------ ------------- (Unaudited) Sales $1,400,066 $633,785 $2,708,986 $1,295,432 Gross profit 570,878 140,212 933,153 402,522 Research and development 256,083 374,362 991,843 1,722,676 Selling, general, and administrative expense 667,199 481,935 2,099,333 1,778,088 ------------- ------------- ------------ ------------- Total operating expenses 923,282 856,297 3,091,176 3,500,764 ------------- ------------- ------------ ------------- Loss from operations (352,404) (716,085) (2,158,023) (3,098,242) Total other income and expense (20,113) (51,207) (63,992) (282,795) ------------- ------------- ------------ ------------- Net loss $(372,517) $(767,292) $(2,222,015) $(3,381,037) ============= ============= ============ ============= Basic and diluted loss per share $(0.02) $(0.03) $(0.09) $(0.15) Weighted average common shares outstanding 23,530,154 23,236,630 23,451,930 23,172,176 CONTACT: Interleukin Genetics Fenel M. Eloi, 781-398-0700 -----END PRIVACY-ENHANCED MESSAGE-----