PURE Bioscience Reports Third Quarter and Nine-Month Results
SAN DIEGO
Revenues for the nine-month period were $328,842, an increase of 107%, as compared with revenues of $158,925 in the nine-month period of the prior year. The Company reported a loss before taxes for the nine months ended April 30, 2007 of ($2,751,772) or ($0.11) per share, as compared with a loss of ($2,400,142), or ($0.13) per share, in the nine months ended April 30, 2006.
Michael L. Krall, President and CEO, said, “The third quarter was one filled with important milestones for PURE. We started off the quarter with the excellent report from the Tulsa County Jail that the use of Staph Attack® hard surface disinfectant containing PURE’s patented silver dihydrogen citrate (SDC) had eradicated the long-standing Staph infection problem at the jail. Formerly, the jail was reporting an average of 12 cases each month of the resistant form of Staph known as Methicillin Resistant Staphylococcus Aureus (MRSA). In the 10 months since using Staph Attack, the jail reports no new cases of Staph.
“Also during the quarter, we announced the first filing with the FDA for an SDC-based hand sanitizer formulation by our pharmaceutical research and development partner, Therapeutics, Inc. Since the
Continued Krall, “We continue to aggressively broaden the commercialization of SDC-based products. In March, Lifebio/PCI was licensed to actively market and sell non-pharmaceutical SDC-based antimicrobial products in
“Interest from new licensing partners continues to grow. We have several new agreements for distribution of our SDC-based hard surface disinfectant in process and look forward to signing them in the coming weeks.
“Projects being pursued by some of our distributors include opportunities in the travel and hospitality markets. We are conducting additional formulation development and laboratory testing in order to enter these markets with a disinfectant that can be diluted on-site and provides residual viral protection. In addition, we continue our discussions with international and domestic companies for integration of SDC into third-party household/consumer product lines.
“Consistent with our growth strategy, last month we announced the completion of a 20-fold capacity expansion of our SDC production facility – increasing our annual SDC revenue capacity from $11 million to more than $250 million. We also added a new automated blending and packaging operation to provide a cost-effective, quick turn around alternative for smaller distributors. In the current fiscal quarter, we look forward to our GMP suite becoming certified, which is a requirement for us to be able to manufacture SDC as an active pharmaceutical ingredient,” concluded Krall.
SDC: A Disruptive Technology
Silver dihydrogen citrate (SDC) is an electrolytically generated source of stabilized ionic silver. A patented new molecular entity, SDC is distinguished from competitors because of its superior efficacy and reduced toxicity. PURE produces and markets ready-to-use EPA-registered disinfectant products, as well as varying strengths of SDC concentrate as an active ingredient, additive or preservative for inclusion in third party products. PURE also pursues development programs for SDC as an active pharmaceutical ingredient in a variety of pharmaceutical products.
About PURE Bioscience
PURE Bioscience (PURE) develops and markets technology-based bioscience products that provide solutions to numerous global health challenges. 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. PURE Bioscience, 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.
# # #