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SCOLR Pharma, Inc. Reports Third Quarter 2010 Financial Results
Date:11/10/2010

aeli pharmaceutical company focused primarily on acquisitions and development of late clinical-stage new formulations of existing drugs. Ondansetron is sold under the trade name Zofran©.

RedHill is the exclusive licensee of SCOLR's CDT platform for application to extended release tablet formulations of ondansetron.  Mr. Turner said, "We are encouraged that RedHill continues in its efforts to bring an extended release ondansetron tablet to market, and are pleased to continue our involvement in that process through these development services."In addition, in November SCOLR announced the award of approximately $250,000 in federal funds under the Therapeutic Discovery Project conducted by the Department of the Treasury and the Department of Health and Human Services.  The funds were awarded in connection with qualifying development expenses incurred during 2009 and earlier this year.

Included as part of the Patient Protection and Affordable Care Act of 2010, the Therapeutic Discovery Project program provided a tax credit to encourage investments in new therapies to prevent, diagnose, and treat acute and chronic diseases. Companies such as SCOLR that cannot currently use a tax credit were allowed to apply for a cash grant in lieu of a tax credit. SCOLR was awarded the grant funds primarily in connection with expenditures on its program for development of an extended release formulation of ibuprofen, as well as its programs for development of new ondansetron and peramivir formulations.

Third Quarter 2010 compared to Third Quarter 2009 Financial ResultsTotal revenues for the quarter ended September 30, 2010 were $124,000, a decrease of 53% compared to $262,000 for the same period in 2009. This decrease is due to a decrease in royalty income from our relationship with Perrigo.  Effective January 2010, commensurate with the amendment of our agreement with Perrigo, the royalty rate Perrigo pays us on sales of licensed products decr
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SOURCE SCOLR Pharma, Inc.
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