Aeolus Pharmaceuticals Inc. announced unaudited consolidated earnings results for the first quarter ended December 31, 2015. For the quarter, the company's contract revenue was $305,000 compared to $925,000 a year ago. Loss from operations was $748,000 compared to $698,000 a year ago.

Net loss attributable to common stockholders was $1,613,000 or $0.01 per diluted share compared to $698,000 or $0.01 per diluted share a year ago. Net cash used in operating activities was $820,000 compared to $1,070,000 a year ago. The revenue is from the Lung ARS medical countermeasure development contract with the Biomedical Advanced Research and Development Authority, a division of the U.S. Department of Health and Human Services.

Lower revenue in 2015 reflects the timing of the initiation of program items and revenue recognition under accounting rules. The increase in net loss was partially attributable to non-cash interest expense related to the note payable with a redemption liability completed in September 2015 and retired in December 2015.