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ULURU Inc. Reports Third Quarter 2013 Financial Results
Date:11/15/2013

and licensing fees which were partially offset by a decrease of $50,000 in royalties related to the domestic sale of Aphthasol®, as a result of the patent expiration and resulting license termination.

Research and Development
Research and development expenses were $201,000 for the third quarter of 2013, including $5,000 in share-based compensation, as compared to $153,000 for the third quarter 2012, which included no share-based compensation. The increase of approximately $48,000 in research and development expenses was entirely due to an increase of $54,000 in personnel expense.

Research and development expenses were $578,000 for the nine months ended September 30, 2013, including $12,000 in share-based compensation, as compared to $517,000 for the nine months ended September 30, 2012, which included $9,000 in share-based compensation. The increase of approximately $61,000 in research and development expenses was primarily due to an increase of $85,000 in personnel expense which was partially offset by a decrease of $20,000 in clinical study costs.

Selling, General and Administrative
Selling, general and administrative expenses were $302,000 for the third quarter of 2013, including $20,000 in share-based compensation, as compared to $376,000 for the third quarter of 2012, which included $8,000 in share-based compensation. The decrease of approximately $74,000 in selling, general and administrative expenses was primarily due to a decrease of $109,000 in sales & marketing costs due to a revised sales and marketing plan and a lower head count, and a decrease of $20,000 related to accruals for bad debt expense. These expense decreases were partially offset by an increase of $35,000 in investor relations consulting and an increase of $11,000 in director fees.

Selling, general and administrative expenses were $915,000 for the nine months ended September 30, 2013, including $45,000 in share-based compe
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SOURCE ULURU Inc.
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