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Unilife Corporation Announces Financial Results For Fiscal Year 2012 Fourth Quarter
Date:7/30/2012

are pleased to advise that the majority of these companies are seeking access to more than one of our devices and targeting multiple drugs. We estimate that between five and ten of these customer relationships have now reached an advanced stage. We expect to generate recurring and incremental revenues for Unilife from many of these long-term partnerships as they are formalized," Mr. Shortall concluded.

Cash PositionUnilife had $13.8 million of total cash (including restricted cash) as of June 30, 2012.  In July 2012, Unilife raised net proceeds of $18.8 million from the sale of common stock, resulting in a pro forma cash balance of $32.6 million. 

Financial Results for Three Months Ended June 30, 2012 Revenues for the three months ended June 30, 2012 were $1.2 million compared to $0.7 million for the same period in 2011. During the three months ended June 30, 2012, the Company recognized revenue of $0.6 million related to the clinical development and supply of a novel device for targeted organ delivery.The Company's net loss for the three months ended June 30, 2012 was $14.9 million, or $0.21 per share, compared to a net loss of $10.5 million, or $0.17 per share, for the same period in 2011. The increase in the net loss was primarily attributable to an increase in research and development expenses related to the development of the Company's portfolio of advanced drug delivery devices.

Adjusted net loss for the three months ended June 30, 2012 was $11.0 million, or $0.15 per share, compared to $6.3 million, or $0.10 per share, for the same period in 2011. Adjusted net loss excludes non-cash share-based compensation expense, depreciation and amortization and interest expense.

Financial Results for the Year Ended June 30, 2012Revenues for the year ended June 30, 2012 were $5.5 million compared to $6.7 million for the same period in 2011. During the year ended June 30, 2012, the Company recognized revenue of $1.4 million related
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