Revenue for the first quarter of 2009 was $169,000, compared to $256,000 for the first quarter of 2008. The decrease of approximately $87,000 in revenue from the first quarter of 2008 compared to the first quarter of 2009 was due to a $166,000 product order in 2008 for Aphthasol(R) that did not reoccur in 2009. This revenue decrease was partially offset by increases of $32,000 in Altrazeal product sales, $32,000 in sponsored research, $11,000 in OraDisc(TM) related licensing fees, and $4,000 in Zindaclin(R) royalties.
Research and development expenses for the first quarter of 2009 were $775,000, including $42,000 in share-based compensation, compared to $875,000, including $36,000 in share-based compensation, for the first quarter of 2008. The decrease of approximately $100,000 in research and development expenses was primarily due to lower development costs of $169,000 associated with our Altrazeal(TM) related wound care products and decreased costs of $10,000 associated with the clinical studies for Altrazeal(TM) and Altrazeal(TM) Silver. These decreases were partially offset by an increase in regulatory expenses of $88,000 associated with consultants engaged for our regulatory filings for Altrazeal(TM) related products.
Selling, general and administrative expenses for the first quarter of 2009 were $2.2 million, including $759,000 in share-based compensation, compared to $0.9 million, including $172,000 in share-based compensation, for the first quarter of 2008. The increase of approximately $1.3 million in selling, general and administrative expenses in 2009 was primarily due to costs associated with our sales and marketing efforts of approximately $600,000, distribution services of approximately $120,00
|SOURCE ULURU Inc.|
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