PURE Bioscience's year-end revenues rise to $200,400

By Lisa Kerner

Charlotte, N.C., Oct. 30 - PURE Bioscience said its revenues from continuing operations increased to $200,400 for the fiscal year ended July 31 from $155,800 for fiscal 2005.

The company reported a loss from continuing operations before taxes of $3.7 million, or $0.19 per share, compared with a loss of $3.0 million, or $0.19 per share, for the previous fiscal year.

"In the prior fiscal year we focused on developing opportunities for our bioscience technologies," president and chief executive officer Michael L. Krall said in a news release.

"In this current fiscal year, we expect to begin to realize the financial benefits resulting from the groundwork laid last year."

PURE's company highlights for the year included an equity financing that raised $5.9 million of net proceeds and the expansion of the company's pharmaceutical development initiative with Therapeutics, Inc. to include athlete's foot and nail fungus treatments in addition to a hand sanitizer.

Looking ahead, the El Cajon, Calif.-based bioscience company said it expects to file an Investigational New Drug Application with the Food and Drug Administration in the fourth calendar quarter this year for a silver dihydrogen citrate-based hand sanitizer.

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