Tengion, Inc. announced unaudited earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported loss from operations of $4,472,000 against $3,795,000 for the same period a year ago. Net income was $6,039,000 or $1.06 per share basic and diluted against net loss of $4,089,000 or $1.72 loss per share basic and diluted for the same period a year ago. Adjusted net loss was $6,292,000 or $1.10 loss per share against $5,908,000 or $2.49 for the same period a year ago. The increased adjusted net loss for the 2013 period was primarily due to an increase in research and development expense of $0.5 million related to the Phase 1 clinical trial of the Company's Neo-Kidney Augment initiated in May 2013 at the Karolinska Institute in Stockholm, Sweden.

For the full year, the company reported loss from operations of $16,597,000 against $16,220,000 for the same period a year ago. Net loss was $18,927,000 or $4.70 per share basic and diluted against $16,929,000 or $7.13 loss per share basic and diluted for the same period a year ago. Adjusted net loss was $23,617,000 or $5.87 loss per share against $18,985,000 or $8.00 for the same period a year ago. The increased adjusted net loss for the 2013 period was primarily due to increases in interest expense of $4.7 million and in general and administrative expense of $0.8 million, offset in part by a decrease in research and development expense of $0.6 million and depreciation expense of $0.2 million.