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Prospector
Profile
114-02
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| Aeolus Pharmaceuticals, Inc. |
NAICS |
541710 |
| 23811 Inverness Place
Laguna Niguel, CA 92677 |
Description |
Biotechnology |
| (949) 481-9825 |
Employees |
1 |
| http://www.aeoluspharma.com/ |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-3.0240 |
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Assets |
(mil) |
1.9310 |
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Liability |
(mil) |
0.7510 |
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(for the year ended 2007-09-30) |
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Category:
Audit Concerns
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Event:
Haskell & White LLP raised doubts on the ability of Aeolus Pharmaceuticals, Inc. to continue as a going concern after auditing its financial statements for the year ended September 30, 2007. The auditor notes that the Company has suffered recurring losses, negative cash flows from operations and does not currently possess sufficient working capital to fund its operations throughout the next fiscal year. The Company had a $3.02 million net loss for the year ended September 30, 2007, which is lower than the net losses of $5.81 million and $6.91 million for the years ended September 30, 2006 and 2005, respectively. The Company's balance sheet at September 30, 2007, showed an accumulated deficit of $155.93 million and only $1.18 million in stockholders' equity.
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Intellectual Property:
As of November 30, 2007, the Company's catalytic antioxidant small molecule technology base is described in 11 issued United States patents and 6 United States pending patent applications. These patents and patent applications belong to Duke University or the National Jewish Medical and Research Center and are licensed to the Company. These patents and patent applications cover soluble manganic porphyrins as antioxidant molecules as well as targeted compounds obtained by coupling such antioxidant compounds to molecules that bind to specific extracellular elements. The pending U.S. patent applications and issued U.S. patents include composition of matter claims and method claims for several series of compounds. Corresponding international patent applications have been filed, 61 of which have issued as of November 30, 2007. In addition to patent protection, the Company relies upon trade secrets, proprietary know-how and technological advances that are protected through confidentiality agreements with collaborative partners, employees and consultants. [SEC Filing 10-K 12-13-07]
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Description:
Aeolus Pharmaceuticals, a biopharmaceutical company, develops catalytic antioxidant compounds for diseases and disorders of the central nervous system, respiratory system, autoimmune system, and oncology.
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Officers:
David C. Cavalier (Chair); John L. McManus (Pres. & COO); Brian J. Day, Ph.D. (Chief Scientific Officer); Michael P. McManus (Sec., Treas. & CFO); John M. Farah, Jr. (Dir.); Amit Kumar (Dir.); Michael E. Lewis (Dir.); Joseph J. Krivulka (Dir.); Chris A. Rallis (Dir.); Peter D. Suzdak (Dir.)
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Auditor:
Haskell & White LLP
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Securities:
Common Stock-Symbol AOLS.OB; OTC BB;
31,952,749 common shares outstanding as of December 10, 2007.
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