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SCOLR Pharma, Inc. Reports 2010 Financial Results, Provides Updates on Advances in Nutritionals, OTC Drugs
Date:3/29/2011

BOTHELL, Wash., March 29, 2011 /PRNewswire/ -- SCOLR Pharma, Inc. (OTC Bulletin Board: SCLR) today reported financial results for the twelve months ended December 31, 2010, and also provided updates on a number of key corporate objectives.

Corporate updates include:

  • Under the Company's current operating plan, its cash and cash equivalents are expected to last into the second quarter of 2011, provided that it may experience additional constraints on its liquidity depending on the timing of inventory purchases necessary to fulfill anticipated orders of its nutritional products.
  • The Company currently anticipates receiving orders for its extended-release nutritional products, which would require shipments to be made in time for store shelf placement during the second half of 2011. To develop this business, the Company has established commercial relationships with contract manufacturing and distribution entities as well as sales and marketing brokers.  
  • The Company's total revenues for 2010 declined 34% compared to the prior year as a result of reduced royalty revenue from Perrigo Company following discontinuance by several retailers of Perrigo's licensed products.
  • As previously announced, the Company received a letter from the Food and Drug Administration (FDA) on March 8, 2011 identifying deficiencies regarding its Abbreviated New Drug Application (ANDA) for extended-release pseudoephedrine. The FDA identified a number of deficiencies related to the design and conduct of the bioequivalence study submitted in support of the ANDA and indicated that it is not able to approve the ANDA at this time. The Company is currently evaluating the deficiencies identified by the FDA to determine the most appropriate course of action, however the Company will need to obtain additional funding or partnership support to initiate any clinical activities require
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