PURE Bioscience Reports First Quarter Results
Conference Call Scheduled for Friday, December 11th at 1:30pm PDT
SAN DIEGO, CA., DEC. 11, 2009 – PURE Bioscience (NASDAQ: PURE), creator of the patented silver dihydrogen citrate (SDC) antimicrobial, today reported revenues for the fiscal quarter ended October 31, 2009 of $221,900 compared with revenues of $110,600 in the same quarter of the prior fiscal year. The Company reported a net loss of $(1,711,200), or $(0.05) per share, for the current quarter compared with a loss of $(1,605,300), or $(0.05) per share, in the first fiscal quarter last year.
Michael L. Krall, President and CEO of PURE Bioscience, stated, “Several key events during the quarter substantially accelerated the momentum of our business development activities. Obtaining the U.S. EPA registration of our SDC-based sanitizer for food contact surfaces and equipment, the result of six years of work with the EPA, has opened tremendous market opportunities for us in farms, food processing plants, schools, hospitals, restaurants and homes. Our team is positioned to rapidly penetrate these major new markets for PURE following the issuance of federal and state registrations of our disinfectant to include the new food surface contact sanitizer claims. Those registrations are expected to be completed in the first half of 2010. This milestone with the EPA also supports our ongoing pursuit, through USDA and FDA, of direct food contact applications of SDC-based formulations as an antimicrobial food processing aid.”
Krall continued, “In mid-October, we initiated an aggressive and proactive new business strategy by signing Richmont Sciences to lead PURE’s direct sales and marketing efforts for our existing SDC-based disinfectant. As part of its initial marketing efforts, John Rochon and his team have already held meetings with many potential new customers and have created a heightened awareness of SDC-based disinfectant products on a national level in multiple markets in anticipation of the registration of the IV-7 Ultimate Germ Defense™ product and their subsequent full-scale sales launch. Richmont’s commitment, energy, passion and invaluable expertise is coinciding with a recent and rising urgency in the marketplace for a responsible and effective weapon against the ever increasing threat of dangerous pathogens in our everyday lives. State registrations for IV-7 should be finalized within the next 90 days, and we expect Richmont to hit the ground running. Richmont will also market the disinfectant/food contact sanitizer product when it becomes available.
“Existing distributors of SDC-based hard surface disinfectant are also gaining traction in their respective markets. Yesterday, BioTech Medical launched its public health information website, www.touchsurfaces.org. Dr. Bob Arnot, physician and popular television medical correspondent, serves as the chief medical educator for the campaign, which recommends BioTech’s SDC product, SpectraSan 24TM hard surface disinfectant, as a powerful weapon in eradicating H1N1, MRSA, VRE, Norovirus and other dangerous pathogens commonly spread on hard surfaces.”
Krall concluded, “Our medical and pharmaceutical projects are also building momentum as FTA works with leading researchers and hospitals, including its partner, Cleveland Clinic, to establish and conduct trials for a diverse set of SDC-based products. We anticipate announcing clinical progress in the coming quarters.”
Conference Call
The Company will host a conference call on Friday, December 11, 2009 at 1:30 P.M. PDT to review and discuss the financial results for the fiscal quarter and its business outlook. Shareholders and other interested parties may participate in the conference call by dialing 877-407-8033 or (International) 201-689-8033 a few minutes before 1:30 P.M. PDT on December 11, 2009. The call is being webcast by Vcall and can be accessed at www.purebio.com. Investors can also access the webcast at www.InvestorCalendar.com. The webcast will be available for replay through March 10, 2010. A replay of the conference call will be accessible until February 10, 2010 by dialing 877-660-6853 or (International) 201-612-7415 and entering the Account #286 and the Conference ID #338668.
About PURE Bioscience
PURE Bioscience develops and markets technology-based bioscience products that provide solutions to numerous global health challenges, including Staph (MRSA). PURE's proprietary high efficacy/low toxicity bioscience technologies, including its silver dihydrogen citrate-based antimicrobials, represent innovative advances in diverse markets and lead today's global trend toward industry and consumer use of "green" products while providing competitive advantages in efficacy and safety. Patented SDC is an electrolytically generated source of stabilized ionic silver which formulates well with other compounds. As a platform technology, SDC is distinguished from competitors in the marketplace because of its superior efficacy, reduced toxicity and the inability of bacteria to form a resistance to it. PURE is headquartered in
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project,” "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.