ICAGEN REPORTS FOURTH QUARTER AND FULL YEAR 2005 FINANCIAL
Icagen, Inc. reported today its financial results for the fourth quarter and year
ended December 31, 2005. For the fourth quarter of 2005, the Company reported
revenues of $2.7million and a net loss of $5.3 million. For the year ended December
31, 2005, the Company reported revenues of $8.8 million and a net loss of $20.2
million. As of December 31, 2005, cash and cash equivalents totaled $47.8 million.