SAN DIEGO, June 15 /PRNewswire-FirstCall/ -- PURE Bioscience
(OTC:PURE) (BULLETIN BOARD: PURE) today reported financial results
for the third quarter and nine-month period ended April 30, 2006.
For the third quarter, the Company reported revenues of $44,300
from continuing operations, as compared with revenues of $41,400 in
the third quarter of the prior year. The Company reported a third
quarter loss from continuing operations before taxes of ($871,500),
or ($0.04) per share, as compared with a loss of ($528,800), 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 nine-month period were $158,900,
as compared with revenues of $117,800 in the same period last year.
The Company reported a loss from continuing operations before taxes
of ($2,400,100), or ($0.13) per share, compared with a loss of
($1,933,500), or ($0.12) per share, in the prior period. Michael L.
Krall, President and CEO, said, "In the third quarter we raised
approximately $6 million in capital which now enables us to
actively pursue our marketing efforts of SDC-based products. We
expect two of our distributors to launch SDC-based products in the
next sixty days. We continue to focus on developing products and
establishing partnerships to expand the commercialization of
SDC-based products for industrial use and retail markets, including
household and personal care products, as well as for pharmaceutical
applications. We look forward to increasing revenues in the second
half of 2006." The Power of Silver Dihydrogen Citrate PURE's
flagship bioscience technology is an aqueous antimicrobial, silver
dihydrogen citrate (SDC). A patented new molecule, SDC is an
electrolytically generated source of stabilized ionic silver that
can serve as the basis for a broad range of products in diverse
markets. SDC liquid is colorless, odorless, tasteless, non-caustic
and formulates well with other compounds. As a platform technology,
SDC is distinguished from competitors in the marketplace because of
its superior efficacy combined with reduced toxicity. PURE
currently sells its first commercialized SDC product, an SDC-based
hard surface disinfectant, to distributors that market to
commercial, industrial and consumer markets including restaurants,
homes and medical facilities. The hard surface disinfectant 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, a 10
minute kill time on fungi, a 30 second kill time on HIV Type I, and
a 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 five potential FDA
regulated SDC-based products. Therapeutics is focusing on
development programs for treatment and prevention of acne and for
vaginal anti-infectives as well as athlete's foot, nail fungus and
antimicrobial skin wash 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 FINANCIAL HIGHLIGHTS CONSOLIDATED STATEMENTS OF
OPERATIONS For the For the Nine Months Ended Three Months Ended
April 30 April 30 2006 2005 2006 2005 Net revenues $158,925
$117,818 $44,314 $41,407 Cost of sales 66,585 45,394 $22,592 23,609
Gross profit 92,340 72,424 21,722 17,798 Selling expenses 410,418
363,215 168,747 68,828 General and administrative expenses
1,278,435 697,976 411,712 210,269 Research and development 815,958
925,579 332,450 255,562 Total operating costs 2,504,811 1,986,770
912,909 534,659 Loss from operations (2,412,471) (1,914,346)
(891,187) (516,861) Other income and (expense): Interest income
24,904 100,835 23,710 13 Interest expense (460) (106,110) (186)
(5,000) Other (12,115) (13,882) (3,789) (6,906) Total other income
(expense) 12,329 (19,157) 19,735 (11,893) Loss from continuing
operations (2,400,142) (1,933,503) (871,452) (528,754) Discontinued
operations: Income from discontinued operations -- 483,432 --
92,237 Net loss before taxes (2,400,142) (1,450,071) (871,452)
(436,517) Income tax provision -- -- -- -- Net loss after taxes
$(2,400,142) $(1,450,071) $(871,452) $(436,517) Net loss per common
share, basic and diluted Continuing operations $(0.13) $(0.12)
$(0.04) $(0.04) Discontinued operations -- 0.03 -- 0.01 Income tax
provision -- -- -- -- Net loss $(0.13) $(0.09) $(0.04) $(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, , for PURE Bioscience Web site:
http://www.purebio.com/
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