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Aeolus Announces Third Quarter Financial Results for Fiscal Year 2017
Aeolus Announces Third Quarter Financial Results for Fiscal Year 2017.
About this update from Aeolus Pharmaceuticals Inc
[{"type":"text","content":"MISSION VIEJO, CA / ACCESSWIRE / August 14, 2017 / Aeolus Pharmaceuticals, Inc. (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 June 30, 2017. The company reported net loss of $949,000, or $0.01 per share, for the three months ended June 30, 2017. This compares to a net loss of $872,000, or $0.01 per share, for the three months ended March 31, 2017. The increase in net loss was primarily attributable to lower revenues from the Biomedical Advanced Research and Development Authority (\"BARDA\") and costs associated with the completion of a phase 1 study with AEOL 10150 in healthy volunteers.\"During the quarter, we completed the in-life phase of our phase 1 study in healthy subjects and received Fast Track Designation for the development of AEOL 10150 as a medical countermeasure against pulmonary damage from radiation exposure. Results from the phase 1 study will be reported shortly and we plan to amend that study protocol to allow expanded dosing out to seven to 28 days in healthy subjects, in accordance with guidance provided by the FDA Division of Medical Imaging Products,\" stated John L. McManus, President & Chief Executive Officer of Aeolus Pharmaceuticals, Inc. \"We are fortunate that the National Institutes of Health - National Institute of Allergy and Infectious Disease has stepped in to help us continue the development of our product. We plan to initiate a pharmacokinetic study during the next three months, which will bridge our animal efficacy and human safety data and position us to file pre-Emergency Use Authorization documents and request a Special Protocol Assessment from the FDA for an 'adequate and well controlled' study to meet the efficacy requirements for an approval under the 'Animal Rule.' AEOL 10150 is the only product under development by the US Government to treat the delayed effects of radiation exposure. It has been safe and well tolerated in 48 patients and has demonstrated significant efficacy against radiation, sulfur mustard gas and nerve agent exposure - three major threats currently being used or contemplated in the world.\"Results of Operations for the Three Months Ended June 30, 2017Revenue for the three months ended June 30, 2017 was $13,000, which c...