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Last10K.com | 10-K Annual Report Fri Dec 12 2008
Contact:
John
L. McManus
President
and Chief Executive Officer
(949)
481-9825
Aeolus
Pharmaceuticals Announces Fiscal Year 2008 Financial Results
Mission
Viejo, California, December 12, 2008 -- Aeolus Pharmaceuticals, Inc. (OTC
Bulletin Board: AOLS) announced today financial results for the three months and
twelve months ended September 30, 2008. The Company reported a net
loss of $1,055,000, or $0.03 per share, compared to a loss of $1,022,000, or
$0.03 per share, for the three months ended September 30,
2007. Results for the three months ended September 30, 2008 included
licensing income of $175,000, a related collaboration charge of $413,000 for a
milestone payment due under a license agreement and a deemed dividend of
$118,000 as a result of the re-pricing of certain warrants.
The
Company reported a net loss of $2,973,000, or $0.09 per share, for the fiscal
year ended September 30, 2008, compared to a loss of $3,024,000, or $0.10 per
share, for the fiscal year ended September 30, 2007.
“Thanks
to the continued support of our investors and our academic collaborators, we
were able to make significant advancements in the development of AEOL 10150”,
stated John L. McManus, President and Chief Executive
Officer. “During the year we initiated the first of two pivotal
animal studies that we expect will be necessary for approval of AEOL 10150 as a
countermeasure for Acute Radiation Syndrome, initiated a compassionate use
multiple dose study in a patient diagnosed with progressive and debilitating
amyotrophic lateral sclerosis which will be useful for future potential
development in both ALS and radiation therapy and continued the study of AEOL
10150 as a countermeasure for mustard gas exposure. We anticipate
that the next group of studies in mustard gas will begin shortly, and we should
have results during the first half of 2009.”
Fiscal
2008 research and development (“R&D”) expenses decreased in fiscal 2008 when
compared to fiscal 2007. The lower level of R&D expenses during
the current period reflects a lower amount of employment, consulting and
manufacturing expenses offset by a higher level of pre-clinical and patent
expenses. The decline in employment and consulting expenses reflects
that we were completing our multiple dose clinical trail and were in the process
of manufacturing bulk quantities of our lead drug candidate, AEOL 10150, during
fiscal 2007, whereas during the current year we had restructured our research
program to utilize outside research institutions and grants to perform our
research activities.
General
and administrative (“G&A”) expenses decreased in fiscal year 2008 when
compared to fiscal year 2007. The lower level of G&A expenses
reflects a decline in employment costs, stock compensation expense and investor
relations expense. Employment costs and stock compensation expense
declined during fiscal 2008 compared to fiscal 2007 due to a lower
headcount. Investor relations expenses declined as a result of a
decrease in the level of activity for our investor relations
program.
The following information was filed by Aeolus Pharmaceuticals, Inc. (AOLS) on Friday, December 12, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Aeolus Pharmaceuticals, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2008 10-K Annual Report includes:
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Aeolus Pharmaceuticals, Inc. provided additional information to their SEC Filing as exhibits
Ticker: AOLS
CIK: 1261734
Form Type: 10-K Annual Report
Accession Number: 0001261734-08-000035
Submitted to the SEC: Fri Dec 12 2008 4:41:50 PM EST
Accepted by the SEC: Fri Dec 12 2008
Period: Tuesday, September 30, 2008
Industry: Pharmaceutical Preparations
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