BETHESDA, Md.--(BUSINESS WIRE)--March 31, 2006--RegeneRx Biopharmaceuticals, Inc. (AMEX:RGN), announced today the results of its year ended December 31, 2005. The company reported a net loss of $5.5 million or $0.15 per share for the year ended December 31, 2005, compared with a net loss of $3.3 million or $0.10 per share for the year ended December 31, 2004. For the fourth quarter the company’s net loss was $2.2 million, which included a non-cash charge of $0.6 million for previously capitalized patents costs. The net loss for 2005 resulted primarily from the continued research and development expenditures related to ongoing Phase II clinical trials to study the company’s product (TB4) for the treatment of chronic dermal wounds, research and development efforts related to its technology platform, scale-up manufacturing and formulation efforts related to two anticipated clinical trials in the ophthalmic and cardiovascular fields, and administrative costs associated with managing the company’s projects. RegeneRx had approximately $7.6 million in cash and short-term investments at December 31, 2005. On March 16, 2006, the company further enhanced its cash position through a $7.3 million registered direct offering of common stock and has approximately $13.3 million of cash on hand as of March 31, 2006.
