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Pharmos Corporation Reports Fourth Quarter and Full Year 2009 Results
Date:2/22/2010

ISELIN, N.J., Feb. 22 /PRNewswire-FirstCall/ -- Pharmos Corporation (Pink Sheets: PARS) today reported financial results for the fourth quarter and twelve-month period ended December 31, 2009.

Fourth Quarter Ended December 31, 2009

Pharmos has no revenues at this time. The fourth quarter net income is partly due to a renegotiated milestone requirement that is not expected to be met and the resulting reversal of a previously recorded Q1 charge of $1 million as well as a tax benefit recorded of $3.9 million from the sale of the NJ tax NOL's, which exceeded operating expenses for the quarter.


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