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ULURU Inc. Reports Third Quarter 2010 Financial Results
Date:11/15/2010

lizing plans for our 0.75 gram line extension;
  • Successfully completing 150 audits, essential to maintaining our CE Mark approval;
  • Expanding and advancing discussions on numerous strategic partnering opportunities;
  • Planning for the launch of multiple products in international markets in early 2011; and
  • Upgrading our independent sales force and substantially expanding the number of representatives.

  • We believe that the recent progress that has been made will begin to favorably impact our financial results in the fourth quarter, with the major impact being experienced in 2011."

    Operating ResultsRevenues

    Revenue for the third quarter of 2010 was $62,000, compared to $130,000 for the third quarter of 2009.  The decrease of $68,000 in revenue was due primarily to a decrease of $25,000 in OraDisc™ licensing fees due to an adjustment in revenue amortization and the impact of the divestiture of Zindaclin® technologies in June 2010, which resulted in decreases of $2,000 in licensing and $39,000 in royalties.

    Research and Development

    Research and development expenses for the third quarter of 2010 were $296,000, including $32,000 in share-based compensation, compared to $376,000, including $31,000 in share-based compensation, for the third quarter of 2009.  The decrease of $80,000 in research and development expenses consisted of decreases in scientific personnel costs of $34,000, regulatory consulting expenses of $11,000, direct research costs of $8,000, and clinical testing expenses for our wound care technologies of $29,000.  

    Selling, General and Administrative

    Selling, general and administrative expenses for the third quarter of 2010 were $666,000, including $26,000 in share-based compensation, compared to $981,000, including $126,000 in share-based compensation, for the third quarter of 2009.  The decrease of approximately $315,000 in
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    SOURCE ULURU Inc.
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