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Interleukin Genetics Reports First Quarter 2011 Financial Results

Friday, May 13, 2011 General News J E 4
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INTERLEUKIN GENETICS, INC.

FINANCIAL HIGHLIGHTS

Balance Sheet Data : (Unaudited)

March 31,

December 31,

2011

2010

Cash and cash equivalents

$  2,841,057

$     3,999,029

Total current assets

$  3,540,743

$     4,752,790

Total assets

$  4,661,693

$     5,975,000

Total current liabilities

$  1,495,890

$     1,633,096

Total liabilities

$ 12,495,890

$    12,633,096

Total shareholders' deficit

$ (7,834,197)

$    (6,658,096)

Total liabilities and shareholders' deficit

$  4,661,693

$     5,975,000

Statement of Operations Data (Unaudited):

Three Months Ended March 31,

2011

2010

Revenue:

Genetic testing revenue

$   719,447

$      365,911

Other

38

2,799

Total revenue

719,485

368,710

Cost of revenue

357,589

413,407

Gross profit (loss)

361,896

(44,697)

Operating costs and expenses:

Research and development

304,820

416,996

Selling, general and administrative

1,202,454

1,426,271

Amortization of intangibles

28,863

28,863

Total operating expenses

1,536,137

1,872,130

Loss from operations

(1,174,241)

(1,916,827)

Total other income and (expense), net

(81,470)

(66,307)

Loss before income taxes

(1,255,711)

(1,983,134)

Income taxes

-

-

Net loss

$ (1,255,711)

$    (1,983,134)

Basic and diluted net loss per common share

$     (0.03)

$        (0.06)

Weighted average common shares outstanding,

basic and diluted

36,618,010

33,139,173

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