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ULURU Inc. Reports Second Quarter 2013 Financial Results
Date:8/15/2013

reases were partially offset by a decrease of $45,000 in scientific compensation principally due to a lower head count.

Research and development expenses were $376,000 for the six months ended June 30, 2013, including $6,000 in share-based compensation, compared to $364,000 for the six months ended June 30, 2012, which included $9,000 in share-based compensation.  The increase of $12,000 in research and development expenses was primarily due to an increase of $138,000 in direct research costs related to Altrazeal®.  This expense increase was partially offset by a decrease of $106,000 in scientific compensation related to share-based compensation and a lower head count, and a decrease of $20,000 in clinical study costs. 

Selling, General and Administrative

Selling, general and administrative expenses for the second quarter of 2013 were $352,000, including $17,000 in share-based compensation, as compared to $514,000, which included $4,000 in share-based compensation, for the second quarter of 2012.  The decrease of approximately $162,000 in selling, general and administrative expenses was primarily due to a decrease of $103,000 in sales & marketing costs due to a revised sales and marketing plan and a lower head count, a decrease of $67,000 in investor relations consulting and a decrease of $21,000 in insurance costs.  These expense decreases were partially offset by an increase of $21,000 in bad debt costs and an increase of $11,000 in director fees.

Selling, general and administrative expenses were $612,000 for the six months ended June 30, 2013, including $25,000 in share-based compensation, compared to $990,000 for the six months ended June 30, 2012, which included $21,000 in share-based compensation.  The decrease of $378,000 in selling, general and administrative expenses was primarily due to a decrease of $214,000 in sales & marketing costs due to a revised sales and marke
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SOURCE ULURU Inc.
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