This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

PURE Bioscience Reports First Quarter Results

PURE Bioscience (NASDAQ: PURE ), creator of the patented silver dihydrogen citrate (SDC) antimicrobial, today reported financial results for its first quarter ended October 31, 2011.

Revenue for the quarter was $257,000, compared with revenue of $23,000 for the same quarter of the prior year. The net loss for the quarter was $2.4 million, or $0.06 per share, compared with a net loss of $2.0 million, or $0.06 per share, in the first quarter last year.

As of October 31, 2011, the Company had cash and cash equivalents of approximately $1.0 million.

Michael L. Krall, President and CEO of PURE Bioscience, stated, “The first quarter of fiscal 2012 was our first full quarter of completely and directly controlling the sales and marketing of our PURE Hard Surface disinfectant and sanitizer product. I am pleased with the execution of our business development strategy and marketing activities to date, and I believe our diligent and focused efforts will build the necessary brand awareness to accelerate sales. The recent addition of James McClenahan to spearhead our initiatives in the janitorial service industry is a key element to our aggressive ‘push-pull’ marketing effort, in which we will drive sales through the janitorial suppliers while also reaching out directly to end-users such as restaurants, hotels, food processing facilities, hospitals, schools and institutions to create awareness and demand.”

Krall added, “Importantly, we have established the financial resources necessary to leverage our foundation of proprietary product superiority, regulatory approvals and a growing sales network to penetrate our key target markets.”

Earlier today, the Company announced it has entered into two common stock purchase agreements with Lincoln Park Capital Fund, LLC for up to $10 million, including an initial investment of $500,000.

Craig Johnson, Chief Financial Officer of PURE Bioscience, commented on the financing, “The common stock purchase agreements with Lincoln Park Capital provide us with immediate capital and the flexibility to raise additional capital as needed at our discretion. We have been impressed with Lincoln Park Capital’s thorough investment process, and we are pleased to welcome them as a trusted fundamental investor in PURE.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs