-----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, WGYmezEDyPHbOaUx7N0zTKctWHmhEqNOhg4F7pf85o5kSnaMH9aBSG96OnHW91lw UYiNpqVmzBQwzgXMDqcskw== 0001157523-06-002631.txt : 20060314 0001157523-06-002631.hdr.sgml : 20060314 20060314095510 ACCESSION NUMBER: 0001157523-06-002631 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060314 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060314 DATE AS OF CHANGE: 20060314 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: 001-32715 FILM NUMBER: 06683708 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 a5101152.txt INTERLEUKIN GENETICS, INC. 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) March 14, 2006 ----------------------- Interleukin Genetics, Inc. - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in Its Charter) Delaware - -------------------------------------------------------------------------------- (State or Other Jurisdiction of Incorporation) 001-32715 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 March 14, 2006, Interleukin Genetics, Inc. issued a press release to report its consolidated financial results for the quarter and year ended December 31, 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 March 14, 2006. 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: March 14, 2006 /s/ PHILIP R. REILLY -------------------------- Philip R. Reilly Chief Executive Officer (Signature) EX-99.1 2 a5101152ex99_1.txt EXHIBIT 99.1 Exhibit 99.1 Interleukin Genetics Reports Fourth Quarter and Year-End Financial Results WALTHAM, Mass.--(BUSINESS WIRE)--March 14, 2006--Interleukin Genetics, Inc. (AMEX: ILI) today reported a net loss of $1.8 million or $0.07 per basic and diluted common share for the quarter ended December 31, 2005. For the year, the company reported a net loss of $6.6 million or $0.28 per basic and diluted common share. Financial Results: Revenue for the quarter was $2,000 compared to $8,000 in the same quarter of 2004 reflecting in both periods royalties on PST(R) sales and in 2004 licensing revenue associated with one of the company's patents. For the quarter, the company reported a net loss of $1.8 million or $0.07 per basic and diluted common share as compared to a net loss of $1.7 million or $0.07 per basic and diluted common share for the same period in the prior year. Revenue for the year ended December 31, 2005 was $23,000 compared to $35,000 for the year ended December 31, 2004. For the year ended December 31, 2005, the company reported a net loss of $6.6 million or $0.28 per basic and diluted common share as compared to a net loss of $7.2 million or $0.31 per basic and diluted common share for the year ended December 31, 2004. Management noted that research and development expenses were $959,000 for the quarter ended December 31, 2005 compared to $1.0 million for the quarter ended December 31, 2004. These expenses include research and development expenses funded by Alticor and its affiliates under research and development agreements. Research and development expenses were $3.1 million for the year ended December 31, 2005 compared to $4.1 million for 2004. These expenses include, as well, research and development expenses funded by Alticor and its affiliates under research and development agreements. The decrease is 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 $673,000 for the three months ended December 31, 2005 compared to $570,000 during the same period in the prior year. General and administrative expenses were $3.0 million for the year ended December 31, 2005 compared to $2.7 million for 2004. These expenses for 2005 include $462,000 of professional fees associated with compliance with Section 404 of the Sarbanes-Oxley Act of 2002. Other income (expense), net was $125,000 expense for the three months ended December 31, 2005 compared to $134,000 expense during the same period in the prior year and $513,000 expense for the year ended December 31, 2005 compared to $544,000 expense for 2004. Other income (expense), net includes interest income, interest expense and the amortization of the note discount. As of December 31, 2005, the company reported total assets of $5.0 million, including $3.4 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, 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: 12/31/2005 12/31/2004 - ------------------------------------------ ----------- ----------- (Audited) (Audited) Cash and cash equivalents $ 3,415,174 $ 4,528,425 Total current assets 3,589,656 4,721,375 Total assets $ 4,970,075 $ 6,185,501 Total current liabilities $ 3,014,742 $ 1,445,303 Total liabilities 4,686,330 2,657,994 Total shareholders' equity 283,745 3,527,507 Total liabilities and shareholders' equity $ 4,970,075 $ 6,185,501 Statement of Operations data: Three Months Ended Year Ended - -------------------- 12/31/2005 12/31/2004 12/31/2005 12/31/2004 ----------- ----------- ----------- ----------- (Unaudited) (Unaudited) (Audited) (Audited) Revenue $ 2,134 $ 8,135 $ 22,877 $ 34,671 Gross profit 2,134 8,133 22,877 34,320 Research and development 958,819 999,586 3,127,086 4,078,316 General and administrative 672,913 570,107 2,953,779 2,658,037 ----------- ----------- ----------- ----------- Total operating expenses 1,631,732 1,569,693 6,080,865 6,736,353 ----------- ----------- ----------- ----------- Loss from operations (1,629,598) (1,561,560) (6,057,988) (6,702,033) Total other income and expense (124,950) (133,770) (512,836) (544,169) ----------- ----------- ----------- ----------- Net loss $(1,754,548) $(1,695,330)$(6,570,824)$(7,246,202) =========== =========== =========== =========== Basic and diluted loss per share $ (0.07) $ (0.07)$ (0.28)$ (0.31) Weighted average common shares outstanding 23,861,436 23,569,986 23,702,967 23,482,642 CONTACT: For Interleukin Genetics: John J. McCabe, 781-398-0700 -----END PRIVACY-ENHANCED MESSAGE-----