First Quarter
Domestic sales increased 5.5% compared to the first quarter of 2008.
Gross profit totaled $1.2 million compared to $.7 million in the first quarter of 2008.
Gross profit margins increased to 9.3% from 5.8% in the first quarter of 2008.
SFP related R&D expense increased 71% to $1.3 million compared to $.8 million in the first quarter 2008.
Drug Development Progress
Completed SFP Phase 2b study enrollment; subject treatments expected to be completed in October.
Data Safety Monitoring Board (DSMB) review noted no safety concerns with SFP and recommended continuation of Phase 2b study.
Appointed Richard Yocum, M.D. to VP of Drug Development & Medical Affairs in February 2009.
Robert L. Chioini, chairman and chief executive officer stated, “We are pleased with our first quarter performance. We continue to make solid progress clinically. We anticipate our Phase 2b data will be available by year end and that our Phase 3 program will begin sometime thereafter. Both our business and clinical development progress is in line with our expectations.”
