QualityStocks News – Aeolus Pharmaceuticals, Inc. (AOLS) Posts Q4, FY 2011 Financial Results, Operational Highlights
QualityStocks News – Aeolus Pharmaceuticals, Inc. (AOLS) Posts Q4, FY 2011 Financial Results, Operational Highlights
Scottsdale, AZ (PRWEB) December 29, 2011
QualityStocks would like to highlight Aeolus Pharmaceuticals, a publicly traded corporation primarily focused on developing AEOL 10150 for oncology indications. It is also being developed, with funding by the US Department of Health and Human Services, as a medical countermeasure against chemical and radiological weapons, where its initial target indications are as a protective agent against the effects of acute radiation syndrome and delayed effects of acute radiation exposure.
In the company’s recent news,
Aeolus Pharmaceuticals announced its financial results for the three and twelve months ended September 30, 2011, as well as several key operational accomplishments achieved during the year.
Aeolus reported total revenues for full-year 2011 at $ 4.8 million compared to no revenue in full-year 2010.
Net income for 2011 was $ 0.3 million, or $ 0.01 per basic share, which includes a non-cash gain of approximately $ 3.9 million related to decreases in the fair value of the warrants, as compared to a 2010 loss of $ 25.9 million, or $ (0.53) per basic share, which includes a charge of approximately $ 21.3 million related to increases in the fair value of the warrants.
For the fourth quarter of 2011, Aeolus reported total revenues at $ 2.1 million compared to no revenue in 2010.
Net loss for the 2011 fourth quarter was $ 2.1 million, which includes a gain of approximately $ 1.1 million related to decreases in the fair value of the warrants, as compared to $ 12.9 million, which includes a charge of approximately $ 11.4 million related to increases in the fair value of the warrants, in the fourth quarter of FY 2010.
As of September 30, 2011, the company had cash and cash equivalents of $ 518,000.
The company also highlighted operational milestones achieved during full-year 2011, including but not limited to:
Awarded a $ 118.4 million contract to develop treatment for pulmonary acute radiation syndrome
Reported positive results from study of AEOL 10150 and Neupogen(R) as combination therapy for treatment of acute radiation syndrome
Research partners awarded more than $ 13.4 million in research grants
Filed for Orphan Drug designation of AEOL 10150 for mitigation and/or treatment of delayed effects of acute radiation exposure of the lung
Shored-up balance sheet with additional cash
Accomplished 11 key milestones under the BARDA Lung ARS development contract
“During fiscal year 2011, we were able to take major steps forward in the development of AEOL 10150, at minimal cost to our shareholders, based on the support of our medical countermeasure development program by BARDA, NIH-NIAID and NIH CounterACT,” John L. McManus, president and CEO stated in the press release. “We look forward to 2012, when we expect to receive a decision on several BARDA options, begin an important human safety study under the BARDA contract that will also support of our oncology program and report key data from several ongoing studies.”
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company’s actual results to differ materially from those indicated in any forward-looking statements.
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