PURE Bioscience (PURE.OB), creators of patented silver dihydrogen citrate (SDC), the active ingredient in disinfectants that kill Staph/MRSA as well as other human pathogens, reported financial results for the year ended July 31, 2007. Revenues for PURE totaled $336,400, an increased of 68% when compared to revenues of $200,432 in the prior year. The Company also reported a loss from operations before taxes of $(4,840,800), or $(0.19) per share, compared with a loss of $(3,712,600), or $(0.19) per share, in the prior year.
Michael L. Krall, President and CEO of PURE Bioscience, stated “In fiscal 2007 we continued to lay the groundwork needed to more fully develop opportunities for our SDC platform technology: 1) production and private label distribution development for ready-to-use EPA-registered disinfectant products, 2) establishment of channels for distribution of varying strengths of SDC concentrate as an active ingredient, additive or preservative for inclusion in third party products, including household and personal care products, and 3) continued pursuit of development programs for SDC as an active pharmaceutical ingredient in a variety of pharmaceutical products. To meet anticipated demand, we completed a facility expansion to increase our capacity to produce concentrate from $7 million to $250 million per year and obtained cGMP certification of the manufacturing facility and process for the production of pharmaceutical-grade SDC concentrate as an Active Pharmaceutical Ingredient (API).”
“The immediate elimination and continued prevention of Staph/MRSA at the Tulsa County Jail after 14 months of using our disinfectant validates the efficacy and practicality of implementing the SDC-based disinfectant into emergency and routine cleaning procedures. In our research and development program, we had identified and prepared for the rapid emergence of Staph infections as a common health hazard, and we are confident that our disinfectant provides a solution to this problem.”
“In addition to growing the private label program for our SDC-based disinfectant, in this past year we signed distributors in Brazil and Asia, expanded our patent portfolio and, with a pharmaceutical development partner, filed an investigational new drug application with the US Food and Drug Administration for an SDC-based hand sanitizer for which clinical trials are now underway. In addition, we successfully completed our R&D and third party laboratory testing on our new SDC-based product, Cruise Control™. Cruise Control dilutable concentrate will be marketed to the cruise ship industry and is the first disinfecting product to offer 24-hour residual protection against Norovirus.”
Krall also commented on the future outlook, “We view 2008 as our breakout year for a number of reasons. Intense media coverage has focused the public’s attention on Staph, and based on recent feedback from our private label distributors, we anticipate notable growth in private label distribution of SDC-based disinfectants. In addition, we expect to sign several pending distribution agreements in the coming weeks, and we will continue pursuing partnerships with industry leading companies in new markets for SDC.”
“We are also optimistic about the tremendous market opportunity for Cruise Control™; furthermore we look forward to our distributors in Brazil and Asia placing their first orders for concentrate after receipt of local regulatory approvals early in calendar 2008. We expect the current IND for hand sanitizer to progress toward approval, and we look forward to establishing additional development relationships to further explore SDC as an active pharmaceutical ingredient for other applications, including wound and burn care, dental, veterinary and systemic antibacterial, antiviral and antifungal products as well as for medical device applications.”
Krall concluded, “Lastly, with the equity financing completed this month we are one step closer to listing on a national exchange – a move I believe will bring increased exposure and liquidity to our stock in 2008.”
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