Uluru's key product is Altrazeal, a scientifically engineered product which is based on its proprietary NanoFlex technology.
The Altrazeal wound dressing, which is composed of biocompatible materials is a micro-porous, skin-like film that is intended as a primary treatment for chronic wounds, such as leg ulcers, and diabetic ulcers, and acute wounds, trauma and burns.
It contains a sterile powder which, when applied to a moist wound, interacts with bodily fluids and hydrates. The NanoFlex powder then aggregates and creates a moist wound dressing that conforms to the surface of the wound and seals it - helping to reduce pain.
POSITIONED FOR GROWTH
"The achievements in the past 12 months have favorably positioned the company for significant revenue growth in 2012 and beyond," Uluru president and CEO Kerry P. Gray said.
In the next six months, the company aims to ship Altrazeal to its distributor in the veterinary market; supply its first European order; launch the product in five international markets including Germany, Australia and New Zealand and make the first product shipments to China once marketing approval is received.
As a result of these commercial activities, the company said that beginning in the second quarter, it is projecting a "significant" increase in product sales in 2012.
This increase in revenue is forecast to escalate during the course of 2012 and 2013 as Altrazeal is launched in additional European markets and its partnership network is expanded to include further international markets.
"We are looking forward to the introduction of Altrazeal in Germany, Australia and New Zealand where we believe the product attributes of Altrazeal, lower treatment cost and improved clinical outcomes, will enable Altrazeal to rapidly gain market share.
"We plan on further extending our network of licensing partners during 2012 to have all major markets, with the possible exception of Japan, covered by year end. Also, we are excited about the near-term introduction of Altrazeal into the veterinary market. These activities should further enhance our revenue growth," Uluru's Gray added.
In a conference call, Uluru's Gray said sales projections in Europe would "exceed $50 million in the fourth year of marketing" while the company sees sales "in excess of $2 million" in Australia and New Zealand in the first year.
"With the achievements in 2011 and the early part of 2012 we are now poised for significant revenue growth as plans are in place for the introduction of Altrazeal into 6 human health care markets and the veterinary market," Gray told investors on the call.
PARTNERING WITH Novartis
Within a month, the first shipment of Altrazeal for the veterinary market to Novartis, a major player in the pharmaceuticals space, is due to take place.
"It is quite an achievement for a small organization to meet the high standards of companies such as this."
Gray said Uluru expects to receive regulatory approval for Altrazeal in China by mid-2012 and anticipates the first product shipment occurring in the third quarter 2012.
The company is seeking a strategic partner in the U.S., as well as expanding its global network to include Mexico, Canada, South Korea and additional Asian markets.
"With the rapid expansion of the Altrazeal commercial activities and the further expansion of clinical and economic data supporting Altrazeal, the visibility of the company - not only in the financial markets but also the wound care market - should be greatly enhanced, which should favorably impact our market capitalization."
The company recently posted earnings for its fourth-quarter and full-year 2011.
In the fourth quarter, the company reported a net loss of $0.9 million, or $0.13 per share, compared with a net loss of $0.3 million, or $0.05 per share, a year earlier.
Revenues for the fourth quarter of 2011 were $256,000, compared to $1.02 million for the fourth quarter of 2010. Lower revenue was due to decreased licensing fees, the company said, as the prior year period included the recognition of $751,000 in unamortized licensing fees.
For the full-year, net loss was $4.1 million, or $0.67 per share, compared with a net loss of $5.0 million, or $0.93 per share, in 2010. Revenues were $485,000 compared to $1.56 million a year earlier.
As of January 31, 2012, the company held cash and equivalents of approximately $215,000.
Uluru is a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery utilizing its innovative Nanoflex Aggregate technology and OraDisc transmucosal delivery system.