·

We completed a private placement equity offering in March, selling an aggregate of 8,260,000 shares of our common stock at $0.50 per share and warrants to purchase an aggregate of 1,652,000 shares of our common stock at $0.75 per share.  Net proceeds of the offering were approximately $3.7 million after placement agent fees, expenses of registration, and other direct and incremental offering costs.

·

We recently acquired rights to the Nuprin® name in connection with sales of ibuprofen.  SCOLR purchased all right, title and interest of Advanced Healthcare Distributors, LLC to the Nuprin® name, including its portfolio of global registrations (exclusive of Canada).  Advanced Healthcare Distributors, LLC is an affiliate of CVS Caremark Corporation.

 

		March 31, 2010 (Unaudited)				December 31, 2009
ASSETS
Current Assets
Cash and cash equivalents		$	3,965			$	1,176
Accounts receivable			145				269
Prepaid expenses and other assets			297				228
Total current assets			4,407				1,673
Property and Equipment — net of accumulated depreciation of $1,309 and $1,272, respectively			400				435
Intangible assets — net of accumulated amortization of $531 and $514, respectively			755				565
Restricted cash			383				438
		$	5,945			$	3,111
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable		$	117			$	47
Accrued liabilities			396				640
Deferred revenue			—				25
Total current liabilities			513				712
Deferred rent			188				198
Total liabilities			701				910
Commitments and Contingencies
Stockholders’ Equity
Preferred stock, authorized 5,000,000 shares, $.01 par value, none issued or outstanding			—				—
Common stock, authorized 100,000,000 shares, $.001 par value 49,572,555 and 41,098,270 issued and outstanding as of March 31, 2010, and December 31, 2009, respectively			51				41
Additional paid-in capital			76,698				72,832
Accumulated deficit			(71,505	)			(70,672	)
Total stockholders’ equity			5,244				2,201
		$	5,945			$	3,111

 

 

 

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