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BioMS Medical Announces 2009 Year End Results
Date:3/16/2010

U.S. Food and Drug Administration (FDA) for Toraymyxin(TM), a treatment for severe sepsis. This approval permits Spectral to initiate its planned pivotal trial for Toraymyxin(TM) in the United States. - At the end of 2009, BioMS had reduced its headcount by approximately 50% to 15. Dirucotide Update ----------------- - On July 27, 2009, BioMS reported that the results of the MAESTRO-01 pivotal trial for dirucotide, its drug candidate for the treatment of multiple sclerosis, did not meet its efficacy endpoints. BioMS discontinued all ongoing clinical trials with dirucotide, and announced that it did not intend to pursue further late-stage trials. The licensing and development agreement between BioMS and Eli Lilly for dirucotide was terminated, with all commercial rights returning to BioMS.

Financial Results

The consolidated net income of the Corporation for the year ended December 31, 2009 was $2.9 million or $0.03 per share compared with a consolidated net loss of $(0.5) million or $(0.01) per share for the previous year. The consolidated net loss for the three months ended December 31, 2009 was $(7.2) million or $(0.08) per share compared with a consolidated net income of $0.3
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1. BioMS Medical reports Spectral receives FDA approval to initiate pivotal trial and closes financing for $19.5 million
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