Tengion, Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
March 18, 2013 at 11:30 am
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Tengion, Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported net loss attributable to common shareholders of $13,970,000 or $5.91 loss per share against net loss attributable to common shareholders of $4,089,000 or $1.72 loss per share for the same period a year ago. Adjusted net loss was $6,202,000 or $3.29 per share against $5,908,000 or $0.77 loss per share for the same period a year ago. The decreased adjusted net loss for the 2012 period was primarily due to a reduction in compensation and related expenses of $2.0 million and a decrease in depreciation expense of $0.2 million.
For the year, the company reported net loss attributable to common shareholders of $19,061,000 or $8.82 loss per share against net loss attributable to common shareholders of $16,929,000 or $7.13 loss per share for the same period a year ago. Adjusted net loss was $24,421,000 or $2.48 loss per share against $18,985,000 or $0.87for the same period a year ago.
Tengion, Inc. is a regenerative medicine company focused on discovering, developing, manufacturing and commercializing a range of neo-organs, or products composed of living cells, with or without synthetic or natural materials, implanted or injected into the body to engraft into, regenerate, or replace a damaged tissue or organ. Â The Company, by using its Organ Regeneration Platform, it creates neo-organs using patientâs own cells. Â The Company, based on its clinical and preclinical experience is leveraging its Organ Regeneration Platform to develop Neo-Kidney Augment for patients with advanced chronic kidney disease and Neo-Urinary Conduit for bladder cancer patients who are in need of a urinary diversion. The Companyâs product candidates are intended to delay or eliminate the need for chronic disease therapies, organ transplantation, and the administration of anti-rejection medications.