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SCOLR Pharma, Inc. Reports Fourth Quarter 2008 Financial Results
Date:3/11/2009

saction in 2008 under which we received $4.1 million and successfully relocated our corporate headquarters to a better equipped facility.

"Our primary focus in 2009 will be the disciplined execution of our development programs, the establishment of new licensing and collaboration agreements, and continued leveraging of the Company's novel drug delivery expertise to create oral drug formulations that address large and growing markets."

Year-end 2008 clinical and operational achievements include the following:

  • Reported favorable top-line results from our pivotal Phase III trial to evaluate the efficacy of our 12 hour CDT 600 mg (CR) ibuprofen for the OTC market. The trial incorporated the FDA special protocol assessment design elements, met both co-primary as well as key secondary endpoints, (p<0.0001), demonstrating both onset and durability of effect for the duration of the study, and had no significant adverse events;
  • Received a Complete Response Letter from the FDA for our ANDA for a 120 milligram 12-hour pseudoephedrine tablet based on our patented CDT platform;
  • Advanced work with Dr. Reddy's Laboratories on a confidential product;
  • Completed the lease termination and buyout transaction under which SCOLR received $4.1 million and successfully relocated its corporate headquarters to a more cost effective and better equipped facility.

Total revenues for the year ended December 31, 2008 were $958,320, a decrease of 51% compared to $2.0 million for 2007. This decrease was primarily due to the higher level of research and development fees and licensing revenues in 2007 relating to a license agreement that was terminated in March 2007.

Royalty revenue from our CDT-based product sales in the dietary supplement markets decreased 19%, or $219,164 to $958,320 for the year ended December
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SOURCE SCOLR Pharma, Inc.
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