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news.SCOLR Pharma has reported total revenues of $184,000 for the first quarter ended 31 March 2011, an increase of 11%, compared to $166,000 for the same period in 2010.
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The company has reported a net loss of $1.22m, or $0.02 loss per diluted share, compared to net loss of $1.05m or $0.02 loss per diluted share, for the same period last year.
The increase in net loss reflects higher research and development expenses primarily associated with clinical supplies and preparation activities related to the ibuprofen actual use study.
SCOLR Pharma’s loss from operations was $1.33mm, as compared to $834,000 for the same period prior year.
SCOLR Pharma president and CEO Stephen Turner said based on anticipated sales of their nutritional products and their reduced expenses they project that their nutritional business will become profitable earlier than previously thought possible.
"We intend to use any future profits from our nutritional products business to continue development and expansion of that business and to advance our ibuprofen product and pursue licensing or collaborations with pharmaceutical companies and retailers," Turner said.