AP Pharma Inc. expected to Report Q1 2010 Results on May 14, 2010. This event was calculated by Capital IQ (Created on March 16, 2010).

AP Pharma Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2009. For the quarter, the company's contract revenues were $122,000 against $20,000 a year ago. Operating loss was $2,100,000 against $3,832,000 a year ago. Loss from continuing operations was $2,103,000 or $0.06 per basic and diluted share against $3,866,000 or $0.13 per basic and diluted share a year ago. Loss before income taxes was $2,035,000 against $3,946,000 a year ago. Net loss was $1,913,000 or $0.05 per basic and diluted share against $3,946,000 or $0.13 per basic and diluted share a year ago. The improved operating results were principally due to the company's decision to suspend, for the time being, development of its other product candidates in order to focus its resources on the submission and approval of the NDA for APF530 as well as other cost containment initiatives undertaken by the company. For the year, the company's contract revenues were $1,261,000 against $369,000 a year ago. The increase in revenues reflects $1.0 million of previously deferred revenue recognized as the result of the termination of a partner agreement in 2009, as well as revenue associated with a development program utilizing proprietary Biochronomer(TM) technology with Merial. Operating loss was $10,242,000 against $23,445,000 a year ago. Loss from continuing operations was $10,218,000 or $0.31 per basic and diluted share against $22,925,000 or $0.74 per basic and diluted share a year ago. Loss before income taxes was $10,150,000 against $23,125,000 a year ago. Net loss was $10,028,000 or $0.31 per basic and diluted share against $23,125,000 or $0.75 per basic and diluted share a year ago. The improved operating results were principally due to the company's decision to suspend, for the time being, development of its other product candidates in order to focus its resources on the submission and approval of the NDA for APF530 as well as other cost containment initiatives undertaken by the company.

AP Pharma Inc. announced the appointment of Stephen Davis to its board of directors. Mr. Davis was the chief executive officer for Neurogen Corporation. His appointment brings the number of board members to seven. Mr. Davis joined Neurogen Corporation in 1994, where he most recently served as the organization's chief executive officer and president. Prior to joining Neurogen, he was employed by Milbank, Tweed, Hadley & McCloy LLP as a corporate and securities attorney.

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