BELLEVUE, Wash., Aug. 7 /PRNewswire-FirstCall/ -- SCOLR Pharma, Inc. (Amex: DDD) today reported financial results for the three and six months ended June 30, 2008. The Company will host a live conference call today, August 7, 2008, at 11:30 a.m. (Eastern Daylight Time).
Daniel O. Wilds, SCOLR Pharma's President and CEO, said, "We are pleased with the significant progress made during the second quarter maintaining a sharp focus on advancing our two lead product candidates, supporting our corporate partnerships and collaborations, aggressively managing our expenses, and assuring that we have sufficient operating capital through the end of 2009.
As reported during the period, we received the FDA's response to our special protocol assessment that provided further Phase III study design clarity for our over-the-counter (OTC) 12-hour extended-release (ER) ibuprofen product candidate. Subsequently, we incorporated the FDA's suggestions in our study protocol and initiated this important pivotal trial on June 30, 2008. In addition, we announced the submission of an Abbreviated New Drug Application (ANDA) for our OTC 12-hour ER pseudoephedrine product candidate in early August. We also announced the buy-out of our corporate facility lease under which we will receive an aggregate of $4.1 million. By continuing to focus spending on our lead product candidates, limiting additional drug development initiatives to those already partnered and in active collaborations, we expect that the net proceeds from the lease buy-out and current financial resources together with continuing expense management will be sufficient to fund our operations through 2009. "
Total revenues, which consist of royalty revenue from our collaboration
|SOURCE SCOLR Pharma, Inc.|
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