Senesco Technologies, Inc. ("Senesco" or the "Company") (AMEX:SNT) reported financial results for the three month period ended December 31, 2005.

The net loss for the three months ended December 31, 2005 was $914,009 or $0.06 per share, compared with a net loss of $645,230, or $0.05 per share, in the comparable period in fiscal 2005. This increase was primarily the result of lower revenue, a decrease in proceeds from the sale of the state income tax loss, and higher research and development expenses, which was partially offset by an increase in interest income.

The Company reported revenues of $12,500 during the three month period ended December 31, 2005, compared with $87,502 in the comparable period in fiscal 2005. The recorded revenue consisted of the amortized portion of the initial fee and milestone payment on a development and license agreement. The decrease in revenue is
attributed to a milestone payment that was received during the three month period ended December 31, 2004, which, for the current year, was not received until January 2006.

Total operating expenses for the three month period ended December 31, 2005 were $954,181, compared with $895,743 in the comparable period in fiscal 2005. This increase was primarily attributable to an increase in research and development expenses and a modest increase in general and administrative expenses. The Company expects operating expenses to increase over the next twelve months as it continues to expand its research and development activities.

Research and development expenses for the three month period ended December 31, 2005 were $405,439, compared with $357,603 in the comparable period in fiscal 2005. This increase was primarily the result of the expanded research programs in both the agricultural and human health applications of Senesco's technology, while stock-based compensation expense fell modestly.

General and administrative expenses for the three month period ended December 31, 2005 were $548,742, compared with $538,140 in the comparable period in fiscal 2005.

During the three month period ended December 31, 2004, the Company received net proceeds of $153,160 from the sale of the Company's New Jersey state tax loss for the year ended June 30, 2003. Because the criteria required for approval changed during the year, the Company was not approved to sell its New Jersey state tax loss for the year ended June 30, 2004 and therefore, it did not receive any proceeds during the three month period ended December 31, 2005.

As of December 31, 2005, Senesco had cash, cash equivalents and investments of $3,019,904 and working capital of $2,589,905.

During the quarter ended December 31, 2005, Senesco announced that results from its funded research agreement at Mayo Clinic produced data showing that its Factor 5A gene technology caused human multiple myeloma cells grown in vitro to die. Multiple myeloma is a type of bone marrow cancer.

Additionally, in November 2005, the Company's funded research at the University of Waterloo was the subject of two poster presentations at the American Association of Cancer Researchers - National Cancer Institute - European Organisation for Research and Treatment of Cancer ("AACR-NCI-EORTC") International Conference on Molecular Targets and Cancer Therapeutics.

Senesco has initiated preclinical research to trigger or delay cell death in mammals (apoptosis) to determine if the technology is applicable in human medicine. Accelerating apoptosis may have applications to development of cancer treatments. Delaying apoptosis may have applications to certain diseases such as glaucoma, ischemia and arthritis, among others. Senesco takes its name from the scientific term for the aging of plant cells: senescence. The Company has developed technology that regulates the onset of cell death. Delaying cell breakdown in plants extends freshness after harvesting, while increasing crop yields, plant size and resistance to environmental stress for flowers, fruits and vegetables. In addition to its human health research programs, the Company believes that its technology can be used to develop superior strains of crops without any modification other than delaying natural plant senescence. Senesco has partnered with leading-edge companies engaged in agricultural biotechnology and earns research and development fees for applying its gene-regulating platform technology to enhance its partners' products. Senesco is headquartered in New Brunswick, New Jersey.