The reduction in operating expenditures was primarily because of lower expenses from the business’s inhaled ciprofloxacin clinical trials. THE BUSINESS’S net loss for the first one fourth of 2012 was $2.0 million, or $0.01 per share, compared with a net loss of $2.4 million, or $0.01 per talk about, for the same period in 2011. As of March 31, 2012, cash, money equivalents and short-term investments totaled $7.0 million. Initial Quarter 2012 Highlights March 2012: received clearance from the FDA for BE IND. On March 12, 2012, the business announced that its Investigational New Medication Application to conduct a pivotal Phase 3 scientific trial of Pulmaquin in non-cystic fibrosis bronchiectasis was cleared by the U.S.Study outcomes appear this complete week in the first on-line version of the Proceedings of the National Academy of Sciences. Pietro Galassetti, a diabetes researcher with the General Clinical Research Center at UC Irvine. Dan Andria and Cooper Pontello of the GCRC conducted breath-analysis testing on 10 kids with type-1 diabetes mellitus. The researchers got air samples throughout a hyperglycemic condition and progressively as they elevated the children’s blood insulin amounts.