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Adeona Reports Second Quarter 2011 Financial Results
Date:8/15/2011

e same period in 2010. The net loss for the six months ended June 30, 2011, was $3,866,356 or $0.15 per share compared to $107,740 or $0.00 per share for the same period in 2010.

As of June 30, 2011, Adeona had approximately $8.4 million in cash compared to approximately $2.6 million on December 31, 2010. As of July 31, 2011, we had approximately $8.1 million in cash, cash equivalents and investment in debt securities. Our cash position should allow us to meet our currently planned operating needs for at least the next 12 months.

"During the second quarter of 2011, we achieved several operational and clinical milestones that should position us well for future growth and increased shareholder value. In the next several months, we anticipate initiating three clinical trials under INDs and making two products commercially available," stated James S. Kuo, M.D., M.B.A., Adeona's Chief Executive Officer. "On the drug development side, we look forward to reporting the completion of patient enrollment in the Trimesta MS trial and to the initiation of a new clinical trial to evaluate Trimesta's effect on cognitive loss observed in MS patients. We are also very excited to initiate drug trials for our ALS and Alzheimer's clinical programs. In addition, we are preparing for the commercial launch of reaZin™, our medical food for the dietary management of zinc deficiency associated with Alzheimer's disease, and wellZin™, to reduce symptoms associated with the common cold."

Adeona Second Quarter 2011 Investor Conference Call

Adeona will hold its second quarter 2011 investor conference call this afternoon, Monday, August 15, 2011, at 2:00pm (EDT). James S. Kuo, M.D., M.B.A., Adeona's Chief Executive Officer, will host the call. Adeona will be joined by special guest, Ananda S. Prasad, M.D., Ph.D., a Distinguished Professor of Internal Medicine at Wayne State University School of Medicine, an Adeona Scientific Advisory Boa
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SOURCE Adeona Pharmaceuticals, Inc.
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