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BioDelivery Sciences Provides Business Review and Update in Conjunction with Filing of its 2012 Annual Report
Date:3/18/2013

RALEIGH, N.C., March 18, 2013 /PRNewswire/ -- BioDelivery Sciences International, Inc. (NASDAQ: BDSI) announced that it has filed its Annual Report on Form 10-K for the year ended December 31, 2012 with the U.S. Securities and Exchange Commission and, in connection therewith, is providing a review of BDSI's 2012 achievements and an update on business operations and upcoming milestones for 2013.

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In 2012, significant progress was made in the development of BDSI's two buprenorphine-containing products with the initiation, in partnership with Endo Health Solutions (Endo), of two Phase 3 pivotal trials with BEMA Buprenorphine for the treatment of chronic pain.  BDSI also completed key bioavailability and safety studies with BUNAVAIL (formerly BEMA Buprenorphine/Naloxone or BNX) for the treatment of opioid dependence.  

These extensive development activities increased BDSI's research and development expenditures from $20.8 million in 2011 to $35.4 million in 2012.  Revenues recognized in 2012 were $54.5 million, including $35.8 million from Endo and $17.5 million previously deferred revenue associated with the BDSI commercialization agreement with Meda for BDSI's FDA approved product ONSOLIS.  At the end of 2012, BDSI had $9.2 million in deferred revenue associated with Endo, which will be recognized through 2013 and into early 2014 as clinical trials progress.  BDSI reported net income of $1.7 million or $0.05 per share for the twelve months ending December 31, 2012.  That compares to a net loss of $23.3 million, or $(0.82) per share in 2011. 

At the end of 2012, BDSI had $63.2 million in cash compared to $10.8 million at December 31, 2011. 

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SOURCE BioDelivery Sciences International, Inc.
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Related medicine technology :

1. BioDelivery Sciences Announces Positive Results from BEMA Buprenorphine/Naloxone (BNX) Pharmacokinetic Study
2. BioDelivery Sciences and Endo Health Solutions Announce Initiation of Enrollment in the Phase 3 Program for BEMA Buprenorphine for Chronic Pain
3. BioDelivery Sciences to Present at the 2012 Wedbush PacGrow Lifesciences Management Access Conference
4. BioDelivery Sciences Announces Completion of Enrollment in Pivotal Pharmacokinetic Study of BEMA Buprenorphine/Naloxone Compared to Suboxone
5. BioDelivery Sciences to Present at the Stifel Nicolaus 2012 Healthcare Conference
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11. BioDelivery Sciences to Present at the 15th Annual BIO CEO and Investor Conference
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