ULURU Inc. Reports Financial Results for Fourth Quarter and Year Ended December 31,...

ULURU Inc. Reports Financial Results for Fourth Quarter and Year Ended
December 31, 2008

ADDISON, Texas, March 30 /PRNewswire-FirstCall/ -- ULURU Inc. (NYSE Alternext:
ULU) today announced its financial results for the fourth quarter and year
ended December 31, 2008.

For the fourth quarter of 2008, the Company reported a net loss of $2.9
million, or $0.04 per share, compared with a net loss of $0.9 million, or
$0.01 per share, for the same period last year. For the year ended December
31, 2008, the Company reported a net loss of $9.8 million, or $0.15 per share,
compared with a net loss of $4.2 million, or $0.07 per share, in the same
period of 2007. At December 31, 2008, the Company held cash and cash
equivalents of $7.6 million, compared with $13.9 million at December 31, 2007.

Commenting on the financial results Renaat Van den Hooff, President and CEO
stated, "The increase in operating expenses continues to be driven by costs
associated with the commercial and clinical development of Altrazeal(TM) and
Altrazeal(TM) Silver. These investments are necessary in order to give
visibility to the clinical successes obtained with our Altrazeal(TM) products
and to keep our future product development milestones on track".

Recent accomplishments related to our wound care franchise include:
-- Altrazeal(TM) has been applied on an estimated 3,000 patients in
treatment of a variety of wounds; with a significant number of these
cases being well documented with data and pictures detailing the wound
healing process;
-- Four posters have been published and over thirty abstracts for posters
and oral presentations have been submitted and accepted to be
presented
at several prominent wound care conferences in the upcoming months;
-- To date, four articles with Altrazeal(TM) case studies have been
submitted for publication in influential wound care journals; and

-- Dr. Jeffrey A. Niezgoda, MD, FACHM, FACEP, FAPWCA, the Medical
Director
of The Centers for Comprehensive Wound Care and Hyperbaric Oxygen
Therapy at St. Luke's Medical Center in Milwaukee, Wisconsin and a
nationally recognized wound care expert, accepted the position of
Chairman of ULURU's Scientific Advisory Board.

Mr. Van den Hooff continued, "We are now in the process of working through the
purchasing cycle at a growing number of institutions that have observed
successful clinical experiences with Altrazeal(TM). In parallel we are in
dialogue with the Food and Drug Administration related to the approval of
Altrazeal(TM) Silver, and our research and development team is on track to
finalize the development and regulatory submission for Altrazeal(TM) Collagen
in the fourth quarter of 2009."

Operating Results
Revenue for the fourth quarter of 2008 was $257,000, compared to $834,000 for
the fourth quarter of 2007. For the year ended December 31, 2008, revenue was
$733,000, compared to $1,466,000 in the same period of 2007. The decrease in
revenue from the fourth quarter of 2007 compared to the fourth quarter of 2008
was due to a decrease in licensing as 2007 included a non-recurring license
fee of approximately $576,000 associated with our Zindaclin(R) product. The
decrease in revenue from the year ended December 2007 compared to the year
ended December 2008 is due to decreases of $243,000 in sponsored research
income and $679,000 in Zindaclin(R) license fees, both of which were
non-recurring revenues in 2007. These decreases were partially offset by
product sales of Altrazeal(TM) and Aphthasol(TM) of approximately $184,000
that occurred this year with no associated product sales occurring in 2007.

Research and development expenses for the fourth quarter of 2008 were
$860,000, including $42,000 in share-based compensation, compared to $638,000,
including $39,000 in share-based compensation, for the fourth quarter of 2007.
For the year ended December 31, 2008, research and development expenses were
$3.5 million, including $162,000 in share-based compensation, compared to $2.2
million, including $136,000 in share-based compensation, in the same period of
2007. The increase of approximately $1.3 million in research and development
expenses was primarily due to development costs associated with our new
Altrazeal(TM) Silver wound care product, clinical study expenses for
Altrazeal(TM) and Altrazeal(TM) Silver, continued development costs for
OraDisc(TM) technologies, regulatory consulting expenses, and additional
scientific personnel.

Selling, general and administrative expenses for the fourth quarter of 2008
were $2.0 million, including $232,000 in share-based compensation, compared to
$0.9 million, including $182,000 in share-based compensation, for the fourth
quarter of 2007. For the year ended December 31, 2008, selling, general and
administrative expenses were $6.0 million, including $862,000 in share-based
compensation, compared to $3.0 million, including $447,000 in share-based
compensation, in the same period of 2007. The increase of approximately $3.0
million in selling, general and administrative expenses in 2008 was primarily
due to costs of approximately $2.3 million associated with the implementation
of our Altrazeal(TM) sales and marketing efforts that commenced in June 2008,
compensation costs associated with the hiring of our executive vice president
of operations, and increases in share-based compensation.

About ULURU Inc.:
ULURU Inc. 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 transmucosal delivery system and Nanoflex(TM) Aggregate technology.
For further information about ULURU Inc., please visit our website at
www.uluruinc.com.

This press release contains certain statements that are forward-looking within
the meaning of Section 27a of the Securities Act of 1933, as amended,
including but not limited to statements made relating to future financial
performance of ULURU Inc. (the "Company"), development of a silver containing
product, the expected publication of articles and posters, and the launch of
additional products. When used in this press release, the words "may,"
"targets," "goal," "could," "should," "would," "believe," "feel," "expects,"
"confident," "anticipate," "estimate," "intend," "plan," "potential" and
similar expressions may be indicative of forward-looking statements including
without limitation statements relating to the progress of our technology,
pre-clinical results for our products, and advantages of our products. These
statements by their nature involve substantial risks and uncertainties,
certain of which are beyond the Company's control. Any forward-looking
statement speaks only as of the date on which such statement is made, and the
Company undertakes no obligation to update any forward-looking statement or
statements to reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of an unanticipated event.
Further, management cannot assess the impact of each such factor on the
business or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in any
forward-looking statements. These statements are subject to numerous risks
and uncertainties, including but not limited to the risk factors detailed in
the Company's Annual Report on Form 10-K for the year ended December 31, 2008
and other reports filed by us with the Securities and Exchange Commission

Contact: Company
Renaat Van den Hooff
President & CEO
Terry K. Wallberg
Vice President & CFO
(214) 905-5145

ULURU Inc.
SUMMARY OF RESULTS

STATEMENTS OF OPERATIONS DATA

Three Months Ended Year ended
December 31, December 31,
2008 2007 2008 2007
REVENUES
License fees $164,459 $740,509 $230,308 $909,252
Royalty income 45,135 61,530 286,303 281,491
Product sales 14,607 --- 184,050 ---
Other 32,316 31,500 32,810 275,001
Total Revenues 256,517 833,539 733,471 1,465,744

COSTS AND EXPENSES
Cost of goods sold 2,604 --- 140,822 ---
Research and
development 859,533 637,550 3,503,638 2,211,698
Selling, general and
administrative 2,025,750 935,476 5,992,097 3,045,065
Amortization 272,102 272,095 1,082,571 1,078,351
Depreciation 32,346 20,050 114,048 72,942
Total Costs and
Expenses 3,192,335 1,865,171 10,833,176 6,408,056

OPERATING (LOSS) (2,935,818) (1,031,632) (10,099,705) (4,942,312)

Other Income (Expense)
Interest and
miscellaneous
income 47,269 174,953 317,070 791,687
Interest expense --- (431) --- (2,006)

(LOSS) BEFORE
INCOME TAXES (2,888,549) (857,110) (9,782,635) (4,152,631)

Income taxes --- --- --- ---
NET (LOSS) $(2,888,549) $(857,110) $(9,782,635) $(4,152,631)

Basic and diluted net
(loss) per common
share $(0.04) $(0.01) $(0.15) $(0.07)

WEIGHTED AVERAGE
NUMBER OF COMMON
SHARES OUTSTANDING 65,509,481 62,370,593 63,775,653 61,798,882

ULURU Inc.
SELECTED CONDENSED CONSOLIDATED BALANCE SHEET DATA

December 31, December 31,
2008 2007
(Audited) (Audited)

Cash and cash equivalents $7,567,588 $13,979,828
Current assets 9,312,041 15,536,146
Property and equipment, net 1,828,040 1,532,881
Other assets 9,985,988 11,053,976
Total assets 21,126,069 28,123,003

Current liabilities 2,243,113 1,389,989
Long term liabilities - deferred
revenue 1,356,526 495,281
Total liabilities 3,599,639 1,885,270
Total stockholders' equity 17,526,430 26,237,733

SOURCE ULURU Inc.

Renaat Van den Hooff, President & CEO, or Terry K. Wallberg, Vice President &
CFO, +1-214-905-5145, both of ULURU Inc.