BOTHELL, Wash., Aug. 7 /PRNewswire-FirstCall/ -- SCOLR Pharma, Inc. (NYSE Amex: DDD) today reported financial results for the three and six months ended June 30, 2009.
Dr. Bruce Morra, SCOLR Pharma's President and CEO, said, "We continue to advance discussions with a number of potential partners for our 12-hour controlled release ibuprofen. These potential partners have been committing resources to due diligence and preliminary negotiations of license terms. In the nutraceutical arena, we are working with companies interested in commercializing products we have developed for growing segments of this field in both the US and international markets. We continue to work with our investment bankers on potential strategic transactions, including mergers and other business combinations that could yield opportunities to increase shareholder value and provide additional resources for us to develop our Controlled Delivery Technology (CDT(R)) platforms. However, we are faced with a difficult marketplace and many specialty pharmaceutical companies competing for alliances with the more established pharmaceutical and consumer product companies. Our operating strategy is to preserve our capital by limiting clinical and development expenses to our ibuprofen and pseudoephedrine lead products while also supporting our existing alliances. We have made significant reductions to our operating expenses so far this year and are continuing to evaluate additional areas to further minimize our burn rate."
Total revenues, which consist of royalty revenue from our collaboration agreements, decreased 17%, or $48,782 to $230,789 for the three months ended June 30, 2009, compared to $279,571 for the same period in 2008. This decrease is primarily due to lower royalty income from our relationship with Perrigo.
|SOURCE SCOLR Pharma, Inc.|
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