Deltagen Reports 2009 First Quarter Financial Results

SAN MATEO, Calif.--(Business Wire)--
Deltagen, Inc. (Pink Sheets:DGEN), a leading provider of drug discovery tools to
the biopharmaceutical industry, today reported unaudited consolidated financial
results for the three months ended March 31, 2009.

Revenues: The Company`s consolidated revenues for the three months ended March
31, 2009 totaled $0.264 million. The revenues were attributable primarily to
license fees associated with the provision of knockout mice and related
phenotypic data pursuant to orders placed by customers under the Company`s
DeltaOneTM program.

Interest Income: The Company had interest income of $0.007 million for the three
months ended March 31, 2009.

Expenses: Total consolidated expenses for the three months ended March 31, 2009
were $0.340 million. The operating expenses were attributable primarily to labor
costs and other general and administrative expenses, including $0.090 million in
royalty and commission expenses.

Net Loss: Net loss before provision for income taxes for the three months ended
March 31, 2009 was $0.068 million.

Cash, Cash Equivalents and Accounts Receivable: As of March 31, 2009, the
Company had $4.968 million in consolidated cash and cash equivalents and $0.129
million in accounts receivable.

The unaudited consolidated financial statements for the first quarter of 2009,
accompanying notes, and Management`s Discussion and Analysis of Financial
Conditions and Results of Operations for such period will be posted on
Deltagen`s website (www.deltagen.com).

About Deltagen

Deltagen, Inc. is a leading provider of drug discovery tools to the
biopharmaceutical industry. Deltagen offers access to its extensive inventory of
knockout mouse lines and related phenotypic data, which enhance the efficiency
of target validation and drug discovery. In addition, Deltagen offers target
validation data in the areas of immunology and metabolic diseases. Deltagen's
products and programs have been validated by customers and partners such as Eli
Lilly & Co., GlaxoSmithKline, Merck & Co., Inc. and Pfizer Inc. For more
information on Deltagen, visit the Company's website at www.deltagen.com.

Safe Harbor Statement

This press release contains "forward-looking statements," including statements
about Deltagen`s future revenues, cash flows and operating results, any possible
future dividend declarations, third-party royalty obligations and third-party
licenses and intellectual property, the impact of Deltagen`s restructuring
efforts, as well as other matters that are not historical facts or
information.These forward-looking statements are based on management`s current
assumptions and expectations and involve risks, uncertainties and other
important factors, specifically including those relating to Deltagen`s ability
to achieve its operational objectives and revenue projections, that may cause
Deltagen`s actual results to be materially different from any future results
expressed or implied by such forward-looking statements. There are no assurances
that the Company will declare any future dividends.Information identifying such
important risk factors is contained in "Management`s Discussion and Analysis of
Financial Conditions and Results of Operations", which can be found at
Deltagen`s website at www.deltagen.com.Deltagen undertakes no obligation to
update or revise any such forward-looking statements, whether as a result of new
information, future events or otherwise.

DELTAGEN, INC.

CONSOLIDATED BALANCE SHEET
(UNAUDITED)

Consolidated Balance Sheet
For Quarter Ended 3/31/09
Unaudited
(Dollars In Thousands) 3/31/09
Consolidated
Assets
Current assets:
Cash and cash equivalents 4,968
Accounts receivable, net 129
Prepaids, Deposits and Tax Assets 36
Total current assets 5,133

Property and equipment, net 54

Non-current portion of deferred tax assets 1,586

Total assets 6,772

Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable 238
Accrued expenses 37
Total liabilities 276

Stockholders' equity:
Common stock 39
Treasury Stock (867 )
Additional paid-in capital 229,061
Retained Earnings (222,064 )
Foreign currency translation adjustment 327
Total stockholders' equity 6,496

Total liabilities and stockholders' equity 6,772

DELTAGEN, INC.

CONSOLIDATED INCOME STATEMENT
(UNAUDITED)

Consolidated Income Statement and
Statement of Retained Earnings
For Quarter Ended 3/31/09
Unaudited
(Dollars In Thousands) 3/31/09
Consolidated

Revenue 264
Royalty and Commission Expenses 90
Operating Expenses 250

Income From Operations (75 )

Interest Income 7

Income before provision for income taxes (68 )

Provision for income taxes
Current income tax expense -
Deferred income tax expense -
Adjustment for valuation allowance -
Total income tax expense/(income) 0

Net Income (Loss) (68 )

Retained earnings at beginning of period (221,996 )

Retained earnings at end of period (222,064 )

DELTAGEN, INC.

CONSOLIDATED CASH FLOW
(UNAUDITED)

Consolidated Cash Flow
For Quarter Ended 3/31/09 Unaudited
3/31/09
(Dollars In Thousands) Consolidated

Cash flows from operating activities:

Net Income (Loss) (68 )

Adjustments to reconcile net income to net cash provided
by operating activities:
Depreciation 4
Loss on disposal of fixed assets -

(Increase)/Decrease in operating assets
Accounts receivable 285
Prepaids, deposits and tax assets 599
Purchase of assets -
Deferred tax assets (586 )

Increase/(Decrease) in operating liabilities
Accounts payable 9
Accrued expenses (300 )

Dividends Paid -

Net Increase/(Decrease) in cash (56 )

Effect of foreign exchange rate change on cash and cash equivalents (61 )

Cash and cash equivalents, at beginning of period 5,084

Cash and cash equivalents, at end of period 4,968

Deltagen, Inc.
Robert J. Driscoll, 650-345-7601
President & CEO

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