Senesco Technologies, Inc. ("Senesco" or the "Company") (AMEX:SNT) reported financial results for the three months ended September 30, 2006.

The net loss for the three month period ended September 30, 2006 was $600,465, or $0.04 per share, compared with a net loss of $897,122, or $0.06 per share, for the three month period ended September 30, 2005. The decrease in net loss was primarily the result of an increase in revenue and a decrease in operating expenses.

Revenues of $81,250 and $12,500 during the three month periods ended September 30, 2006 and 2005, respectively, consisted of milestone payments in connection with certain development and license agreements.

Research and development expenses during the three month period ended September 30, 2006 were $309,348, compared with $419,541 during the three month period ended September 30, 2005. The decline resulted from a decrease in research costs associated with the agricultural and human health research programs and lower stock-based compensation expense. The company expects research and development expense to increase as it expands its research activities, particularly in the area of human health.

General and administrative expenses were $383,285 for the three month period ended September 30, 2006, compared with $522,449 during the three month period ended September 30, 2005. The lower expenses were primarily due to lower stock-based compensation expense.

At September 30, 2006, Senesco had cash, cash equivalents and investments of $755,384. In October 2006, the Company completed a private placement of common stock and warrants for net proceeds of approximately $2,050,000.

Senesco has initiated preclinical research to trigger or delay cell death in mammals (apoptosis) to determine if its technology is applicable in human medicine. Accelerating apoptosis may have applications to the 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, N.J.