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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
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4. BioDelivery Sciences Announces Completion of Enrollment in Pivotal Pharmacokinetic Study of BEMA Buprenorphine/Naloxone Compared to Suboxone
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