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Unilife Corporation Announces Financial Results for Fiscal Year 2012 Second Quarter
Date:2/9/2012

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"In November 2011, we completed a capital raise that bolstered our cash position in order to help support the negotiation of favorable agreements with pharmaceutical customers, the continued expansion of our portfolio of proprietary devices, and to further increase our operational capabilities. An additional benefit of the capital raise is that through the placement of shares with primarily blue chip, healthcare dedicated and long-only funds, we have an expanded investor base and created greater liquidity for the Company's common stock," concluded Mr. Shortall.

Financial Results for Three Months Ended December 31, 2011 Revenues for the three months ended December 31, 2011 were $0.9 million compared to $1.8 million for the same period in 2010.  The variation in revenue reflects the Company's strategic decision to discontinue its contract manufacturing operation in December 2010 and instead, focus on the commercialization, production and supply of its own propriety line of products. In addition, during the three months ended December 31, 2011, the Company recognized revenue of $0.2 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 December 31, 2011 was $12.9 million, or $0.19 per diluted share, compared to a net loss of $10.4 million, or $0.19 per diluted share, for the same period in 2010.  The increase in the net loss was primarily attributable to an increase in research and development expenses related to the development of additional advanced drug delivery devices. These amounts were partially offset by a reduction of $1.3 million in selling, general and administrative expenses.  

Adjusted net loss for the three months ended December 31, 2011 was $9.6 million, or $0.14 per diluted share, compared to $7.6 million, or $0.14 per dilut
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