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The Quigley Corporation Reports First Quarter 2009 Results
Date:5/1/2009

loping natural-source potential prescription and other products. Research and development costs associated with Quigley Pharma for the first quarter of 2009 were $248,000 compared to $1.4 million for the first quarter of 2008. This reduction reflects the completion of the Phase IIb clinical study for QR-333 Diabetic Peripheral Neuropathy in November 2008, which reduced R&D investment costs for the first quarter of 2009.

On April 30, 2009, the Company announced that its Diabetic Peripheral Neuropathy Phase IIb clinical study demonstrated a significant improvement in two key measures of distal sensory nerve function in the group treated with QR-333. These unexpected positive findings expand the potential for the QR-333 drug for Diabetic Neuropathy and suggest possible disease modification.

No tax provision or benefits to reduce losses are provided for the first quarter of 2009 and 2008, as the Company is in a net operating loss carry-forward position for which a valuation has been established.

The Company continued to invest in pharmaceutical research and development including QR448(a), a veterinary anti-viral compound against Infectious Bronchitis Virus (IBV) in poultry, and QR-333, an investigational new formulation for treating conditions associated with Diabetic Peripheral Neuropathy.

The research by the Company is part of its strategic initiatives to generate future growth. These initiatives include capitalizing on the growth potential of Quigley Pharma by developing natural-source potential prescription products particularly for Diabetic Peripheral Neuropathy, avian flu in animals and for protection against ionizing radiation.

Ongoing Quigley Pharma research and development initiatives include investing in its key pharmaceutical formulations, QR-333. The last subject in the Phase IIb study completed treatment at the end November 2008 and the study is now in the final
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SOURCE The Quigley Corporation
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Related medicine news :

1. Unexpected Positive Finding Expands Potential for Quigley QR333 Drug for Diabetic Neuropathy; Findings Suggest Possible Disease Modification
2. The Quigley Corporation Reports Fourth Quarter and 2008 Annual Results; Continues To Invest In Pharmaceutical R&D Future
3. Quigley Announces Completion of Phase IIb Clinical Study of QR-333 For Diabetic Peripheral Neuropathy on November 25, 2008; Collection and Evaluation of Study Data to Begin Immediately Thereafter
4. The Quigley Corporation Reports Third Quarter 2008 Results; Continues Investment in Pharmaceutical R&D Future
5. The Quigley Corporation Names Gerard M. Gleeson to Succeed Retiring George J. Longo as Chief Financial Officer and Director
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