-----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, IGKeEbjj+0tu5hgZ/rn8I2ShW1WRVLFbhL0ASLGsus1f9/33HGXAG4SVvuqbBbSH sgJosX2jNFxaVSzoKWjgUQ== 0001157523-05-009691.txt : 20051104 0001157523-05-009691.hdr.sgml : 20051104 20051104091249 ACCESSION NUMBER: 0001157523-05-009691 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051104 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051104 DATE AS OF CHANGE: 20051104 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: 051178662 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 a5012523.txt INTERLEUKIN GENETICS, INC., 8-K UNITED STATES 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 4, 2005 ------------------------------ Interleukin Genetics, Inc. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 000-23413 94-3123681 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) 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) 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: |_| 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 4, 2005, Interleukin Genetics, Inc. issued a press release to report its consolidated financial results for the quarter ended September 30, 2005. A copy of the earnings press release is being furnished pursuant to this Item 2.02 as Exhibit 99.1 to this Current Report on Form 8-K. Item 9.01 Financial Statements and Exhibits. (c) The following exhibit is furnished with this report: Exhibit No. Description - ----------- ----------- 99.1 Earnings Press Release dated November 4, 2005. 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. Date: November 4, 2005 By: /s/ PHILIP R. REILY --------------------------------- Philip R. Reilly Chief Executive Officer EX-99.1 2 a5012523ex99_1.txt EXHIBIT 99.1 Exhibit 99.1 Interleukin Genetics Reports Third Quarter Financial Results WALTHAM, Mass.--(BUSINESS WIRE)--Nov. 4, 2005--Interleukin Genetics, Inc. (OTCBB: ILGN) a leader in the development of personalized health products, today reported a net loss of $1.5 million or $0.06 per basic and diluted share, for the quarter ended September 30, 2005. Financial Results: Revenue for the quarter was $6,000 compared to $8,000 in the same quarter of 2004 reflecting in both periods royalties on PST(R) sales and licensing revenue associated with one of the company's patents. In addition, 2005 includes $3,000 of revenue from tests processed in the company's commercial laboratory for external research laboratories. For the quarter, the company reported a net loss of $1.5 million or $0.06 basic and diluted net loss per common share as compared to a net loss of $1.7 million or $0.07 basic and diluted net loss per common share for the same period last year. Revenue for the nine months ended September 30, 2005 was $21,000 compared to $27,000 for the nine months ended September 30, 2004. For the nine months ended September 30, 2005, the company reported a net loss of $4.8 million or $0.20 per basic and diluted net loss common share as compared to $5.6 million or $0.24 per basic and diluted net loss common share for the same period last year. Management noted that research and development expenses were $739,000 for the quarter ended September 30, 2005 compared to $979,000 for the quarter ended September 30, 2004. These expenses include research and development expenses funded by Alticor and its affiliates under research and development agreements. The decrease is primarily the result of the timing of clinical studies partially offset by the company's hiring of its Chief Medical Officer in July 2005. Research and development expenses were $2.0 million for the nine months ended September 30, 2005 compared to $3.1 million for the same period in 2004. These expenses include, as well, research and development expenses funded by Alticor and its affiliates under research and development agreements. The decrease is also the result of the timing of clinical studies and temporary reductions in labor and overhead partially offset by the company's hiring of its Chief Medical Officer in July 2005. Management further noted that general and administrative expenses were $650,000 for the three months ended September 30, 2005 compared to $623,000 during the same period last year. These expenses for 2005 include $51,000 of expenses associated with compliance with Section 404 of the Sarbanes-Oxley Act of 2002. General and administrative expenses were $2.4 million for the nine months ended September 30, 2005 compared to $2.1 million during the same period last year. These expenses for 2005 include $416,000 of expenses associated with compliance with Section 404 of the Sarbanes-Oxley Act of 2002. Other income (expense) was $125,000 expense for the three months ended September 30, 2005 compared to $136,000 expense during the same period last year and $388,000 expense for the nine months ended September 30, 2005 compared to $410,000 expense during the same period last year. Other income (expense) includes interest income, interest expense and the amortization of the note discount. As of September 30, 2005, the Company reported total assets of $5.8 million, including $4.3 million of cash and cash equivalents as compared to total assets of $6.2 million including $4.5 million of cash and cash equivalents as of December 31, 2004. 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 for the year ended December 31, 2004 filed with the Securities and Exchange Commission, as amended, 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 Balance Sheet data: 09/30/2005 12/31/2004 - ------------------- ----------- ----------- (Unaudited) (Audited) Cash and cash equivalents $ 4,293,260 $ 4,528,425 Total current assets 4,478,680 4,721,375 Total assets $ 5,849,154 $ 6,185,501 Total current liabilities $ 3,124,026 $ 1,445,303 Total liabilities 4,680,145 2,657,994 Total shareholders' equity 1,169,009 3,527,507 Total liabilities and shareholders' equity $ 5,849,154 $ 6,185,501 Statement of Operations data: - ------------------------------ Three Months Ended Nine Months Ended 09/30/2005 09/30/2004 09/30/2005 09/30/2004 ----------- ----------- ----------- ----------- (As Restated (As Restated and and (Unaudited) Unaudited) (Unaudited) Unaudited) Revenue $ 5,690 $ 8,216 $ 20,743 $ 26,536 Gross profit 5,690 7,965 20,743 26,187 Research and development 738,865 979,089 2,031,727 3,078,730 General and administrative 649,764 623,130 2,417,406 2,087,930 ----------- ----------- ----------- ----------- Total operating expenses 1,388,629 1,602,219 4,449,133 5,166,660 ----------- ----------- ----------- ----------- Loss from operations (1,382,939) (1,594,254) (4,428,390) (5,140,473) Total other income and expense (124,582) (135,582) (387,886) (410,399) ----------- ----------- ----------- ----------- Net loss $(1,507,521)$(1,729,836)$(4,816,276)$(5,550,872) =========== =========== =========== =========== Basic and diluted loss per share $ (0.06)$ (0.07)$ (0.20)$ (0.24) Weighted average common shares outstanding 23,689,490 23,530,154 23,649,365 23,451,930 CONTACT: For Interleukin Genetics: John J. McCabe, 781-398-0700 -----END PRIVACY-ENHANCED MESSAGE-----