SAN DIEGO, March 17 /PRNewswire-FirstCall/ -- PURE Bioscience
(OTC:PURE) (BULLETIN BOARD: PURE) today reported financial results
for the second quarter and six-month period ended January 31, 2006.
For the second quarter the Company reported revenues of $59,442
from continuing operations, as compared with revenues of $50,964 in
the second quarter of the prior year. The Company reported a second
quarter loss from continuing operations before taxes of ($919,156),
or ($0.05) per share, as compared with a loss of ($771,829), or
($0.04) per share in the same period last year. (Logo:
http://www.newscom.com/cgi-bin/prnh/20060119/LATH060LOGO ) Revenues
from continuing operations for the six-month period were $114,611,
as compared with revenues of $76,411 in the same period last year.
The Company reported a loss from continuing operations before taxes
of ($1,528,690), or ($0.09) per share, compared with a loss of
($1,404,749), or ($0.08) per share, in the prior period. Michael L.
Krall, President and CEO, said, "We are making important progress
toward the commercialization of our patented silver dihydrogen
citrate platform technology as a next generation antimicrobial. We
are honing our business development strategy and focusing initially
on industrial uses, retail markets, including household and
personal care products, as well as pharmaceutical applications for
SDC. We look forward to increasing revenues later in 2006." Silver
Dihydrogen Citrate Sets New Standards PURE currently sells its
first commercialized SDC product, Axen30(R) hard surface
disinfectant, to commercial, industrial and consumer markets
including restaurants, homes and medical facilities. The hard
surface disinfection EPA registration includes a 30 second kill
time on standard indicator bacteria, a 24 hour residual kill on
standard indicator bacteria, a 2 minute kill time on some resistant
strains of bacteria, 10 minute kill time on fungi, 30 second kill
time on HIV Type I, and 10 minute kill time on other pathogenic
viruses. These claims distinguish the efficacy of PURE's
disinfectant from many of the leading commercial and consumer
products currently on the market, while maintaining lower toxicity
ratings. Based on the EPA toxicity categorization of antimicrobial
products that ranges from Category I (high toxicity) down to
Category IV, PURE's disinfectant is an EPA Category IV
antimicrobial for which precautionary labeling statements are
normally not required. This compares with Category II warning
statements for most leading brands of disinfectant products. PURE
has begun initial sales of SDC concentrate for integration as a
preservative or active antimicrobial ingredient in existing third
party products. PURE expects to realize revenues not only from raw
material sales but also from licensing and/or royalties.
Longer-term revenues are expected from the inclusion of SDC as a
broad-spectrum antimicrobial for use in pharmaceutical, dental and
veterinary products. PURE is initially pursuing approvals through
the U.S. Food and Drug Administration (FDA) with its partner
Therapeutics, Inc., which is funding and managing the testing and
regulatory process for at least two potential FDA regulated
SDC-based products. About PURE Bioscience PURE Bioscience (PURE)
develops and markets technology-based bioscience products that
provide non-toxic solutions to numerous global health challenges.
PURE's proprietary high efficacy/low toxicity bioscience
technologies, including its silver dihydrogen citrate-based
antimicrobials and boric acid-based pesticides, represent
innovative advances in diverse markets and lead today's global
trend toward industry and consumer use of "green" products while
providing competitive advantages in efficacy and safety. PURE
Bioscience, headquartered in El Cajon, California, (San Diego
metropolitan area), was incorporated in 1992. For additional
information on PURE Bioscience, visit the Company's website:
http://www.purebio.com/. This press release includes statements
that may constitute "forward- looking" statements, usually
containing the words "believe," "estimate," "project," "expect" or
similar expressions. These statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause or
contribute to such differences include, but are not limited to,
acceptance of the Company's current and future products and
services in the marketplace, the ability of the Company to develop
effective new products and receive regulatory approvals of such
products, competitive factors, dependence upon third-party vendors,
and other risks detailed in the Company's periodic report filings
with the Securities and Exchange Commission. By making these
forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release. Media Contact: Investor Contact: Jennifer Mitchell,
Mentus Terri MacInnis, Bibicoff & Associates, Inc. 858-455-5500
818-379-8500 - Continued - FINANCIAL HIGHLIGHTS CONSOLIDATED
STATEMENTS OF OPERATIONS For the Six Months For the Three Months
Ended January 31 Ended January 31 2006 2005 2006 2005 Net revenues
$114,611 $76,411 $59,442 $50,964 Cost of sales 43,993 21,785
$29,182 14,046 Gross profit 70,619 54,626 30,260 36,918 Selling
expenses 241,671 294,387 143,856 201,465 General and administrative
expenses 866,723 487,707 571,184 211,314 Research and development
483,508 670,017 234,539 386,760 Total operating costs 1,591,902
1,452,111 949,579 799,539 Loss from operations (1,521,283)
(1,397,485) (919,318) (762,621) Other income and (expense):
Interest income 1,194 100,822 37 50,411 Interest expense (274)
(101,109) (274) (55,661) Other (8,327) (6,977) 399 (3,958) Total
other income (expense) (7,407) (7,264) 162 (9,208) Loss from
continuing operations (1,528,690) (1,404,749) (919,156) (771,829)
Discontinued operations: Income from discontinued operations --
391,195 -- 241,025 Net loss before taxes (1,528,690) (1,013,554)
(919,156) (530,804) Income tax provision -- -- -- -- Net loss after
taxes $(1,528,690) $(1,013,554) $(919,156) $(530,804) Net loss per
common share, basic and diluted Continuing operations $(0.09)
$(0.08) $(0.05) $(0.04) Discontinued operations -- 0.02 -- 0.01
Income tax provision -- -- -- -- Net loss $(0.09) $(0.06) $(0.05)
$(0.03) http://www.newscom.com/cgi-bin/prnh/20060119/LATH060LOGO
http://photoarchive.ap.org/ DATASOURCE: PURE Bioscience CONTACT:
Media, Jennifer Mitchell of Mentus, +1-858-455-5500, , for PURE
Bioscience; or Investors, Terri MacInnis of Bibicoff &
Associates, Inc., +1-818-379-8500, , both for PURE Bioscience Web
site: http://www.purebio.com/
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