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BioDelivery Sciences Provides Business Review and Update in Conjunction with Filing of its Annual Report
Date:3/19/2012

RALEIGH, N.C., March 19, 2012 /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, 2011, with the U.S. Securities and Exchange Commission and, in connection therewith, is providing a review of the Company's achievements and an update on business operations and upcoming milestones for 2012.

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In 2011, BDSI made significant strides in progressing development of its two lead products, BEMA Buprenorphine for chronic pain and BEMA Buprenorphine/Naloxone (BNX) for opioid dependence.  As such, but as expected, BDSI increased its expenditures and therefore reported a net loss of $23.3 million, or ($0.82) per share, for the twelve months ending December 31, 2011, as compared to a net loss of $13.0 million, or $(0.56) per share, for the twelve months ending December 31, 2010.  The increased net loss is due primarily to increased research and development expenses which totaled $20.8 million in 2011, compared to $10.6 million in 2010. Conduct of the Phase 3 trial for BEMA Buprenorphine in chronic pain and initial studies for BNX are primarily responsible for higher research and development expenses in 2011. 

At December 31, 2011, BDSI had $10.8 million in cash compared to $18.2 million at December 31, 2010.  BDSI received an upfront payment of $30 million in early January 2012 with the signing of a license and development agreement with Endo Pharmaceuticals, Inc. (NASDAQ: ENDP) for BEMA Buprenorphine for the treatment of chronic pain.  A $15 million milestone payment, for granting of a patent extending the exclusi
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SOURCE BioDelivery Sciences International, Inc.
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