New York, NY -- (ReleaseWire) -- 03/08/2013 --AP Pharma Inc. (OTC:APPA) reported fourth quarter and full year 2012 financial results and highlighted recent corporate progress.

“We achieved several critical objectives in 2012, highlighted by the resubmission of our New Drug Application for APF530 to FDA in September. Additionally, we have made a number of key appointments to the management team as we prepare for commercialization of APF530,” said John B. Whelan, A.P. Pharma’s President and Chief Executive Officer.

A.P. Pharma’s net loss for the fourth quarter of 2012 was $7.7 million, or $0.03 per share, compared to a net loss of $4.3 million, or $0.02 per share, for the fourth quarter of 2011.

A.P. Pharma is a specialty pharmaceutical company developing products using its proprietary Biochronomer™ polymer-based drug delivery platform.

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Facebook, Inc. (NASDAQ:FB) announced that Susan Desmond-Hellmann, M.D., M.P.H., chancellor of the University of California, San Francisco (UCSF), has been elected to the company's board of directors.

"Sue has a great track record of building and managing a diverse set of organizations, so her insights will be valuable as we continue to expand into new areas," said Mark Zuckerberg, founder and CEO of Facebook. "Her experience shaping public policy and operating public companies fits well with the rest of the board and will make us an even stronger company."

Firsthand Technology Value Fund, Inc. (SVVC) (the "Fund"), a publicly-traded venture capital fund that invests in technology and cleantech companies, disclosed that its top five holdings as of February 28, 2013 were Twitter, Facebook, SolarCity, Silicon Genesis, and QMAT.

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