Senesco Technologies, Inc. ("Senesco" or the "Company") (AMEX:SNT) reported financial results for the three month period ended March 31, 2006.

The net loss for the three months ended March 31, 2006 was $717,421, or $0.05 per share, compared with a net loss of $908,900, or $0.07 per share, in the comparable period in fiscal 2005. This decrease in the net loss was primarily the result of an increase in revenue and interest income, and a decrease in operating expenses.

The Company reported revenues of $35,416 during the three month period ended March 31, 2006, compared with $12,500 in the comparable period in fiscal 2005. The recorded revenue consisted of the amortized portion of milestone payments on development and license agreements.

Total operating expenses for the three month period ended March 31, 2006 were $777,477, down from $934,527 in the comparable period in fiscal 2005. This decrease was primarily attributable to a 17.7% decrease in research and development expenses and a 16.0% decrease 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 March 31, 2006 were $348,868, compared with $424,131 for the comparable period in fiscal 2005. This decrease was primarily the result of a decrease in stock-based compensation.

General and administrative expenses for the three month period ended March 31, 2006 were $428,579, compared with $510,396 in the comparable period in fiscal 2005. This decrease was primarily the result of a decrease in stock-based compensation.

As of March 31, 2006, Senesco had cash, cash equivalents and investments of $2,514,006 and working capital of $1,798,449.

Recent Research and Development Highlights

During the quarter ended March 31, 2006, Senesco reported that the Company's proprietary Factor 5A gene technology has a positive effect on plants grown in soil with low nutrient levels and in the absence of commercial fertilizer. The Senesco plants exhibited nearly three times the seed yield of unenhanced control plants under these conditions, which could result in significant economic and environmental benefits with no sacrifice to yield.

The Company also reported data from the University of Colorado showing that the Company's Factor 5A1 gene technology increased the survivability of pancreatic islet cells isolated for transplantation in a pre-clinical animal model. Presently, one of the major drawbacks of islet transplantation is the low number of live islets that can be
obtained for transplantation.

Additionally, researchers at the University of Colorado at Denver and Health Sciences Center found Senesco's gene technology showed a reduction of two important indicators of HIV-1 replication in human cell line tests. The data demonstrated that Senesco's Factor 5A1 gene technology reduces the amounts of p24 and IL-8 by approximately 50 percent in HIV-infected cells. The levels of p24, a core protein in HIV cells, and IL-8, a proinflammatory cytokine, rise proportionately with increased HIV replication making both of them standard indicators of HIV-1 infection.

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.