Isolagen says net loss widens by 66%, revenue doubles in 2005

By Angela McDaniels

Seattle, March 14 - Isolagen Inc.'s net loss increased by 66% to $35.8 million, or $1.18 per share, for the year ended Dec. 31 from a net loss of $21.5 million, or $0.71 per share, for 2004, according to a company news release.

Isolagen attributed the increase to increases in selling, general and administrative expenses, research and development expenses and interest expense, partially offset by an increase in interest income and improvement in gross margin.

Total revenue for 2005 increased by 109% to $8.8 million from $4.2 million for 2004. The increase in revenue was primarily attributable to the growth of Isolagen's operations in the United Kingdom, the company said.

At Dec. 31, Isolagen had $67.0 million of cash, cash equivalents, restricted cash and available-for-sale investments, a 58% decrease from $116.1 million at Dec. 31, 2004.

Isolagen is a biotechnology company based in Exton, Pa., that develops and commercializes autologous cellular therapies for soft and hard tissue regeneration.

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