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ULURU Inc. Reports Financial Results for Fourth Quarter and Year Ended December 31, 2008
Date:3/30/2009

ADDISON, Texas, March 30 /PRNewswire-FirstCall/ -- ULURU Inc. (NYSE Alternext: ULU) today announced its financial results for the fourth quarter and year ended December 31, 2008.

For the fourth quarter of 2008, the Company reported a net loss of $2.9 million, or $0.04 per share, compared with a net loss of $0.9 million, or $0.01 per share, for the same period last year. For the year ended December 31, 2008, the Company reported a net loss of $9.8 million, or $0.15 per share, compared with a net loss of $4.2 million, or $0.07 per share, in the same period of 2007. At December 31, 2008, the Company held cash and cash equivalents of $7.6 million, compared with $13.9 million at December 31, 2007.

Commenting on the financial results Renaat Van den Hooff, President and CEO stated, "The increase in operating expenses continues to be driven by costs associated with the commercial and clinical development of Altrazeal(TM) and Altrazeal(TM) Silver. These investments are necessary in order to give visibility to the clinical successes obtained with our Altrazeal(TM) products and to keep our future product development milestones on track".

Recent accomplishments related to our wound care franchise include:

  • Altrazeal(TM) has been applied on an estimated 3,000 patients in treatment of a variety of wounds; with a significant number of these cases being well documented with data and pictures detailing the wound healing process;
  • Four posters have been published and over thirty abstracts for posters and oral presentations have been submitted and accepted to be presented at several prominent wound care conferences in the upcoming months;
  • To date, four articles with Altrazeal(TM) case studies have been submitted for publication in influential wound care journals; and
  • Dr. Jeffrey A. Niezgoda, MD, FACHM, FACEP, FAPWCA, the Medical
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SOURCE ULURU Inc.
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