Net income for the second quarter of 2010 was $1.7 million compared to a loss from continuing operations of $8.6 million in the second quarter of 2009. Revenues were $10.3 million in the second quarter of 2010, consisting primarily of the amortization of license fees from our collaboration agreements. Revenues in the second quarter of 2009 were $10.5 million. As of June 30, 2010, Osiris had $84.4 million of cash, receivables and short-term investments.

Research and development expenses for the second quarter of 2010 were $6.5 million, compared to $18.5 million incurred in the second quarter of 2009. The $12.0 million decrease in R&D expenses reflects the completion of clinical work associated with our Phase 3 clinical trials. General and administrative expenses were $1.6 million for the second quarter of 2010 compared to $2.3 million for the same period of the prior year. Net cash used in continuing operations for the three months ended June 30, 2010 was $5.6 million.

SOURCE Osiris Therapeutics, Inc.