These preclinical studies are designed to address safety concerns expressed by the U.S. Food and Drug Administration (FDA)and to develop a more robust and comprehensive safety profile for Oxycyte. The results will be used to respond to questions posed by the FDA which led to Oxycyte being placed on clinical hold in the United States in 2008. The Company expects to complete this two-year preclinical program in July with results being publicly reported soon thereafter.Dermacyte cosmetic sales revenue declined as the company moved resources out of this non-core business. The decrease was primarily due to the elimination of our internal sales force and the suspension of our direct marketing and advertising programs. In addition, during the fourth quarter, the Company licensed Dermacyte products to Valor Cosmetics of Lausanne, Switzerland. Valor has exclusive worldwide rights to distribute, market and sell Dermacyte either under the Dermacyte brand or its own brand name and packaging.
Oxygen Biotherapeutics Reports Financial Results For The Third Quarter FY2013
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