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Aeolus Announces First Quarter Fiscal Year 2016 Financial Results
Aeolus Announces First Quarter Fiscal Year 2016 Financial Results.
About this update from Aeolus Pharmaceuticals Inc
[{"type":"text","content":"\nAeolus Announces First Quarter Fiscal Year 2016 Financial Results\n\nAeolus Announces First Quarter Fiscal Year 2016 Financial Results\n\n\n MISSION VIEJO, CA--(Marketwired - February 16, 2016) - \n Aeolus Pharmaceuticals, Inc.\n (OTCQB: AOLS), a biotechnology company developing compounds to protect against fibrosis, inflammation, nerve damage and infection announced today financial results for the three months ended December 31, 2015.The Company reported a net loss of approximately $1,033,000, or $0.01 per share for the three months ended December 31, 2015. This compares to a net loss of $698,000, or $0.01 per share, for the three months ended December 31, 2014. The increase in net loss was partially attributable to non-cash interest expense related to the note payable with a redemption liability completed in September 2015 and retired in December 2015.\"During the quarter, we completed the necessary work to file our response to the clinical hold placed on our Investigational New Drug Application (\"IND\") for the lung syndrome of acute radiation exposure (\"Lung-ARS\") by the Medical Imaging Products Division (\"DMIP\") of the U.S. Food and Drug Administration (\"FDA\") and in January 2016 submitted a formal response to the FDA,\" stated John L. McManus, President and Chief Executive Officer. \"We also raised sufficient capital to fund the work necessary for the filing of Investigational New Drug Applications for two new compounds, one for the treatment of Parkinson's disease and one for the treatment of Cystic Fibrosis and infectious disease. This capital will also fund initial human studies of AEOL 10150 in Idiopathic Pulmonary Fibrosis and radiation therapy for cancer.\" \n \n Results of Operations for the Three Months Ended December 31, 2015\n \n Revenue for the three months ended December 31, 2015 was approximately $305,000, versus revenue of $925,000 for the three months ended December 31, 2014. The revenue is from the Lung ARS medical countermeasure development contract with the Biomedical Advanced Research and Development Authority (\"BARDA\"), a division of the U.S. Department of Health and Human Services. Lower revenue in 2015 reflects the timing of the initiation of program items and revenue recognition under accounting rules.Research and development expenses decreased to approximately $492,000 for ...