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Senetek Reports First-Quarter Financial Results; Age Defiant With Kinetin Sales Increase Significantly

NEW YORK, May 15 /PRNewswire/ -- Senetek PLC (Nasdaq: SNTKY) today reported that revenues for the first quarter ended March 3l, 1997, were $1,436,000, compared with revenues of $1,622,000 in the previous year's first quarter. The difference in sales results was attributable to the company's strategy of reducing its lower margin business of the Carme-related product line and at the same time increasing its focus on a select few natural products based on its proprietary plant growth-hormone, Kinetin(TM).

The company also reported a first-quarter net loss of $(1,874,000), or $(O.04) per share, compared with a net loss of $(690,000), or $(0.02) per share, for the previous year's first quarter. The difference in the quarterly loss was primarily the result of (1) increased costs associated with Phase III clinical trials and a regulatory submission related to its INVICORP(TM) therapy for treating Erectile Dysfunction (ED) and a regulatory submission related to its Auto Injector for epinephine; as well as (2) increased costs associated with marketing-related activities concerning the launch of Age Defiant(TM) with Kinetin.

"We have now everything in place to benefit from our past investments," said Anthony J. Cataldo, Senetek's Chairman and Chief Executive Officer. "Clinical data leads us to believe we have the world's most effective therapy and delivery system for treating Erectile Dysfunction. In addition, preliminary clinical data suggest that we may be able to dramatically establish the value of Kinetin in delaying or preventing unwanted changes in the appearance and texture of aging and/or photodamaged skin. Given accomplishments to date and the resources, both financial and human, we have onboard or have access to, we continue to view 1997 as a breakthrough year for Senetek."

Recent highlights:

-- April 30, 1997 -- Senetek announced that it filed a Product Licensing
 Application (PLA) with the United Kingdom's Medicines Control Agency
 (MCA) seeking approval to market its new drug therapy for treating
 moderate-to-severe, organic-based erectile dysfunction (ED) in
 males -- INVICORP, a unique combination therapy administered with
 a proprietary state-of-the-art autoinjector. The PLA submission
 included data from more than 700 men incorporating the recently
 analyzed Phase III clinical trials at eight sites in the United
 Kingdom. The data from the pivotal studies suggest that INVICORP was
 81 percent effective in treating male patients with organic-based
 ED -- patients who previously could not function sexually -- enabling
 them to have an erection suitable for intercourse.

-- April 18, 1997 -- Senetek announced the appointment of Frank Massino,
 48, as President of Senetek's wholly owned subsidiary, Carme
 International Inc. Mr. Massino joined Carme as vice president of
 sales in October 1995. From 1985-1991, he was product director of
 marketing and division sales manager at Glaxo Inc., where he re-
 positioned a mature line of corticosteroids into a $50 million
 psoriasis business. From 1980-85 and 1991-92, Mr. Massino held
 several executive management positions at Ortho Pharmaceutical Corp,
 a division of Johnson & Johnson, most recently as director of
 business development and new products. While at Ortho, Mr.
 Massino was product manager for Retin-A(R), a leading prescription
 product for acne which, in 1995, also was approved for antiaging
 application, under the Renova(R) trademark.

-- March 27, 1997 -- Senetek announced that it will extend from six to 12
 months a clinical study begun Oct. 15, 1996, at the Univ. of
 California (Irvine) of Senetek's patented aging- and photodamaged-skin
 treatment, Kinetin, the active ingredient in Mill Creek(R)
 Naturals Age Defiant(TM) Skin Preservation System manufactured and
 marketed by Senetek's Carme International business unit. The extended
 clinical study will continue to be conducted under the supervision of
 Gerald D. Weinstein, M.D., professor, and chairman of the Department
 of Dermatology at Univ. of California, Irvine's College of
 Medicine. Dr. Weinstein is a leading authority in the area of
 clinical studies of photoaging.

Senetek PLC is a biotechnology company providing solutions for aging- related health problems.

The condensed statement of operations for the company follows:
 Three Months Ended
 March 31, March 31,
 1997 1996
 Revenues $1,436,000 $1,622,000
 Net loss $(1,874,000) $(690,000)
 Net loss per share $(0.04) $(0.02)
 Avg. no. shares out. 45,610,000 40,606,000

Visit Senetek's Web site on the Internet --

To receive previous Senetek news releases by fax, call PR Newswire's "Company News On Call" -- 800-758-5804, extension 115015.

 -0- 05/15/97

/CONTACT: Constance L. Adolph of Ronald Trahan Associates, 617-332-0101/


CO: Senetek PLC; Carme International Inc. ST: New York IN: MTC HEA SU: ERN

VV-CH -- NETH003 -- 3411 05/15/97 10:06 EDT
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Publication:PR Newswire
Date:May 15, 1997
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