WALTHAM, Mass.--(BUSINESS WIRE)--

Interleukin Genetics,Inc. (OTCQB: ILIU.PK - News) today announced financial and operational results for the first quarter ended March 31, 2012.

Total revenue for the three months ended March 31, 2012 was $678,000, compared to $719,000 for the same period in the prior year. The decrease was attributable to lower genetic test revenue.

Research and development expenses were $446,000 for the three months ended March 31, 2012, compared to $305,000 for the same period in the prior year. The Company continues its work in its weight management and periodontal disease programs.

Selling, general, and administrative expenses were $1.1 million for the three months ended March 31, 2012, compared to $1.2 million for the same period in the prior year. The decrease was primarily attributable to decreased corporate professional fees and patent-related legal fees offset in part by increased compensation, consulting and sales commissions paid to Amway.

The Company reported a net loss of $1.4 million, or $(0.04) per basic and diluted common share, for the first quarter of 2012, compared to a loss of $1.3 million, or $(0.03) per basic and diluted share, for the same period in the prior year. On March 31, 2012, the Company had cash and cash equivalents of $732,000 and had $1.3 million available under its credit facility with Pyxis Innovations, Inc.

The Company expects that its current and anticipated financial resources, including the $1.3 million available as of March 31, 2012 under the credit facility, which was borrowed on April 13, 2012, are adequate to maintain current and planned operations at least through June 30, 2012. The Companys independent registered public accounting firm has included an explanatory paragraph in their opinion in connection with the 2011 audit, relating to the Company's ability to continue as a going concern.

While recognized genetic test revenue this quarter was lower than last years for this corresponding quarter, our deferred revenue increased by over 35% or more than $300,000 in this quarter indicating that unit test sales are continuing to grow nicely, said Lewis H. Bender, Chief Executive Officer of Interleukin Genetics. In addition, enrollment in our clinical study in collaboration with Renaissance Health and the University of Michigan to demonstrate the utility of using our PST genetic test in the management of dental patients was completed and we successfully delivered 5,186 genotypes to the University thereby completing our portion of the program.

Conference Call and Webcast Information

Interleukin Genetics will host a live conference call and webcast today at 4:30 p.m. EDT to review the Companys new business developments and first quarter financial results. To access the live call, dial 877-324-1976 (domestic) or 631-291-4550 (international). The live webcast and replay access will be available on the Investors section of the Companys Website at: http://www.ilgenetics.com.

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Interleukin Genetics Reports First Quarter 2012 Financial Results

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