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SCOLR Pharma, Inc. Reports First Quarter 2009 Financial Results
Date:5/1/2009

$61,278 to $821,934 for the three months ended March 31, 2009, compared to $883,212 for the same period in 2008. The decrease was primarily due to proceeds of $85,267 from an insurance settlement for damaged equipment, and a decrease in personnel related expenses of $81,096 due to a reduction in personnel. These decreases were offset by an increase of $73,406 related to our ibuprofen clinical trial and associated outside consulting expenses.

General and administrative expenses decreased 6%, or $78,633 to $1.154 million for the three months ended March 31, 2009, compared to $1.232 million for the same period in 2008, due to a reduction in personnel, travel and insurance expense.

Other income decreased 93%, or $89,364 to $6,642 for the three months ended March 31, 2009, compared to $96,006 for the same period in 2008 due to lower interest rates and cash balances.

Net loss decreased 4%, or $87,874, to $1.904 million for the three months ended March 31, 2009, compared to $1.992 million for the same period in 2008. The decrease was primarily due to reduced operating expenses.

The Company had approximately $4.7 million in cash and cash equivalents, and $473,711 in restricted cash as of March 31, 2009. The Company is investing its cash and cash equivalents in government-backed securities.

The Company will require substantial additional investment that has not yet been secured to complete development of its current product candidates. The Company is currently seeking to raise capital and is pursuing partnering opportunities. The Company's current operating plan reflects reductions taken in operating expenses. The Company is actively managing liquidity by limiting clinical and development expenses to its lead products and supporting existing alliances and collaborations. The Company has deferred all significant expenditures on projects pending additional financing or partnership suppo
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SOURCE SCOLR Pharma, Inc.
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