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Apricus Biosciences' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: APRI

With that, I will the turn the call over to Dr. Bassam Damaj. Bassam?

Bassam Damaj

Thank you, Ed. Good morning to you all from sunny San Diego, and thank you for joining us today.

The first half of 2012 has been an exciting time for Apricus, as we have continued to execute our growth strategy. The second quarter in particular has been one of our most exciting and as a result of our recent transactions to own Scomedica, the leading French healthcare contract sales and marketing organization and its parent and holding company Finesco. And I will go into more detail about this important milestone later in the call.

Our growth strategy is simple, acquire, develop and commercialize new products either directly in geographical areas where we have our own sales force or through strategic partnerships with third party. We now have four approved products, a strong pipeline with multiple late-stage opportunities, and commercial partnerships with leading pharmaceutical companies including Novartis, Abbott, Sandoz, Warner Chilcott, Wockhardt, and Bracco.

The second quarter was also marked by several important regulatory meetings that has Canada for Femprox and MycoVa and the issuance of multiple patents that strengthen our intellectual property portfolio. Later on the call, I will provide updates and more details on these corporate initiatives and updates.

And but first, I will turn the call to our CFO, Steve Martin, to discuss the financial results of our second quarter. Steve?

Steve Martin

Thank you Bassam. Yesterday afternoon we issued our report on Form 10-Q for the second quarter ended June 30, 2012. We continue to reduce our operating losses towards our goal of being cash flow positive. The net loss for the second quarter of 2012 was $4.9 million or $0.19 per share. This compares to the net loss in the second quarter of 2011 of $7.8 million or $0.39 per share, a reduction of 36%.

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