Genetronics Biomedical Co (GEB)

Genetronics Biomedical Corporation is a biomedical company whose technology platform is based on medical devices that use Electroporation Therapy (EPT) to deliver drugs and genes into cells. The Company is developing and commercializing medical therapies to address a number of treatment needs using EPT. Genetronics MedPulser System is in late-stage development in the United States for the treatment of head and neck cancer. This system delivers electrical pulses to tumors injected with the generic drug, bleomycin. The feature of the system, which uses a generator, together with disposable needle applicators, is the preservation of healthy tissue at the margins of the tumor. Pursuant to the agreement, Vical Incorporated has an option to a worldwide license for the use of the Company's in vivo electroporation delivery technology in combination with Vical's vaccine and therapeutic deoxyribonucleic acid (DNA) technology for undisclosed targets.

For the nine months ended 9/30/04, revenues totaled $624 thousand, up from $42 thousand. Net loss from continuing operations and applicable to comm. fell 28% to $8 million. Results reflect higher revenues from collaborative R&D arrangements, offset by higher gen. and admin. expenses.