SCOLR Pharma, Inc. has announced that it will be unable to meet its previously-issued 2010 revenue expectations with respect to sales of its new line of extended-release nutritional products. The revenue outlook for 2010 was based on the expected shipment of SCOLR products to certain large accounts which place orders three times a year based on a shelf planning cycle. Due to delays in product availability, SCOLR will be unable to meet the second of these scheduled review cycles and will not be able to ship products to these large accounts in 2010.
Stephen J. Turner, SCOLR's President and CEO, stated, "We are disappointed that we missed the mid-year purchasing cycle for several large national retailers as a result of product availability. These issues have been, or will be, resolved in advance of the next purchasing cycle and we look forward to a successful launch of our branded nutritional products business. We are confident that our potential customer base remains unchanged and that demand for these novel products is expected to remain high. We are gratified that our customers remain enthused and we look forward to building on this interest as we grow this proprietary franchise of extended release supplements."
Mr. Turner continued, "The company's goal is to focus on successfully launching these new products and utilize the revenues to fund our other product development programs. We continue to be encouraged about the opportunity our extended-release nutritional supplements will provide."
About SCOLR Pharma
Based in Bothell, Washington, SCOLR Pharma, Inc. is a specialty pharmaceutical company focused on applying its formulation expertise and patented CDT platforms to develop novel prescription pharmaceutical, over-the-counter (OTC), and nutritional products. Our CDT drug delivery platforms are based on multiple issued and pending patents and other intellectual property for the programmed release or enhanced performance of active pharmaceutical ingredients and nutritional products. For more information on SCOLR Pharma, please call 425-368-1050 or visit http://www.scolr.com/.
This press release contains forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning the launch of a nutritional products business and expected revenues derived from sales of nutritional products. These forward-looking statements involve risks and uncertainties, including activities, events or developments that we expect, believe or anticipate will or may occur in the future. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including unanticipated costs and expenses associated with our sales of nutritional products, risks associated with utilizing third parties to manufacture and distribute our products, our inability to generate sufficient working capital to support sales of nutritional products, consumer sentiment concerning nutritional products and supplements generally, government regulations and approvals, and general economic conditions. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission. Such filings are available on our website or at http://www.sec.gov/. You are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstance.