Aeolus ($AOLS) received a BARDA notice of intent to exercise options is triggered by Aeolus' successful execution of the first year of its contract. (This is positive news for the company).
The bulk of the options are for the period of performance beginning April 1, 2012 and ending March 31, 2013, and include funding for murine and NHP Efficacy studies in Lung Acute Radiation Syndrome (Lung-ARS), GMP manufacturing, and project management costs.
The company expects revenue to increase to $9 to $11M for fiscal year 2012, as a result of the project.
