Hollis-Eden reports net loss of $0.30 share

By Lisa Kerner

Erie, Pa., May 10 - Hollis-Eden Pharmaceuticals, Inc. reported a net loss of $6.9 million, or $0.30 per share, for the quarter ended March 31, slightly wider than the net loss of $6.8 million, or $0.35 per share, reported in the first quarter of 2005.

Research and development expenses for the first quarter of 2006 of $4.7 million were down from $5.3 million last year. General and administrative expenses were up to $2.9 million compared to $1.8 million in the first quarter of 2005.

Other income for the period was $0.6 million, up slightly from the first-quarter 2005's reported $0.3 million.

As of March 31, 2006, the company reported $60.5 million in cash and cash equivalents, including proceeds of $24.4 million from the sale of 4 million shares of the its stock in February.

Company highlights for the quarter include submission of a response to the Department of Health and Human Services' Request For Proposal and the Department of Defense's Sources Sought Notice (for Acute Radiation Syndrome therapy), filing of an Investigational New Drug for Neumune, and expanding the market potential of its Hormonal Signaling Technology Platform.

San Diego-based Hollis-Eden is developing a proprietary new class of small molecule compounds designed to restore the biological activity of cellular signaling pathways disrupted by disease and aging.

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