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Last $0.11 USD
Change Today -0.01 / -8.33%
Volume 16.9K
As of 8:10 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

interleukin genetics inc (ILIU) Key Developments

Interleukin Genetics, Inc. Announces Financial Results for the Second Quarter and Six Months Ended June 30, 2015

Interleukin Genetics, Inc. announced financial results for its fiscal second quarter and six months ended June 30, 2015. For the quarter, the company reported net revenue of $376,051 against $528,595 a year ago. Loss from operations was $2,014,682 against $1,578,252 a year ago. Loss from continuing operations before income taxes, loss from continuing operations and net loss of $2,166,786 against $1,576,647 a year ago. Basic and diluted loss from continuing operations and net loss was $0.01 per share against $0.01 a year ago. The change in total revenue is largely attributable to a decrease in the company’s genetic test kits returned for processing related to the company’s sales through Access Business Group’s promotional product bundle program. For the six months, the company reported net revenue of $779,263 against $1,016,161 a year ago. Loss from operations was $3,707,246 against $3,244,765 a year ago. Loss from continuing operations before income taxes, loss from continuing operations and net loss of $4,009,981 against $3,241,166 a year ago. Basic and diluted loss from continuing operations and net loss was $0.02 per share against $0.03 a year ago.

Interleukin Genetics, Inc., Q2 2015 Earnings Call, Aug 14, 2015

Interleukin Genetics, Inc., Q2 2015 Earnings Call, Aug 14, 2015

Interleukin Genetics, Inc. Files Certificate of Amendment with the Secretary of State of the State of Delaware

On July 21, 2015, the Interleukin Genetics, Inc. filed a certificate of amendment to its Restated Certificate of Incorporation, as amended, with the Secretary of State of the State of Delaware to increase the number of authorized shares of the company's common stock from 300,000,000 to 450,000,000. The certificate of amendment became effective upon filing.

Interleukin Genetics, Inc. Signs License Agreement to Develop the First Genetic Test of Its Kind

Interleukin Genetics, Inc. announced they signed a license agreement to develop the first genetic test of its kind to identify individuals at increased risk for progression of osteoarthritis (OA) and related complications, such as knee replacement. The agreement pertains to U.S. patent application No. 12/435,260 titled Detecting Genetic Predisposition to Osteoarthritis Associated Conditions, which is jointly owned by NYU School of Medicine and Interleukin Genetics. OA is the most common adult joint disease, increasing in frequency and severity in all aging populations. The estimated prevalence in the United States is 20-40 million patients; five times that of rheumatoid arthritis (RA). Severe forms of OA often lead to joint replacement surgery.

Interleukin Genetics, Inc. Proposes Amendment to its Restated Certificate of Incorporation

Interleukin Genetics, Inc. proposed an amendment to its restated certificate of incorporation to increase the number of authorized shares of common stock from 300,000,000 to 450,000,000 at any time prior to the earlier of August 1, 2016 and the 2016 annual meeting of stockholders, at its annual general meeting will be held on July 21, 2015. The company proposed an amendment to its restated certificate of incorporation to effect a reverse stock split by combining outstanding shares of its common stock into a lesser number of outstanding shares by a ratio of not less than 1-for-5 and not more than 1-for-40 at any time prior to the earlier of August 1, 2016 and the 2016 annual meeting of stockholders, with the exact ratio to be set within this range by its Board of Directors in its sole discretion.

 

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