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Helix BioPharma announces Q1 2006 financial results
Helix BioPharma announces Q1 2006 financial results.
About this update from Helix Biopharma Corp.
[{"type":"text","content":"\n\n\n\n\nAURORA, ON, Dec. 15 /CNW/ - Helix BioPharma Corp. (TSX, FSE: \"HBP\") today\nannounced financial results for the first quarter of fiscal 2006, ended\nOctober 31, 2005.\n\nHIGHLIGHTS IN THE QUARTER\n-------------------------\n\n- Received approval in Sweden to conduct a Phase II clinical trial of\n Topical Interferon Alpha-2b for an additional disease indication,\n patients with ano-genital warts who are positive for infection with\n the human papilloma virus (HPV);\n\n- DOS47 scientific paper published in Journal of Experimental\n Therapeutics and Oncology;\n\n- Completed private placement financings during the quarter and\n subsequently, for gross proceeds of $9,500,000\n\nRESULTS FROM OPERATIONS\nThree month period ended October 31, 2005 compared to the same period in\nthe previous year\nDuring the first quarter of fiscal 2006, the Company recorded a loss of\n$1,451,000 or $0.05 per common share, for an increase of $98,000 when compared\nto the first quarter of fiscal 2005, when the Company recorded a loss\n$1,353,000.\nRevenues for the first quarter of fiscal 2006 totalled $906,000, for a\ndecrease of $72,000 or 7.4% when compared to total revenues for the first\nquarter of fiscal 2005 of $978,000. Higher research and development contract\nrevenue, along with higher Orthovisc(R) revenues, partially offset the lower\nroyalties from Helsinn-Birex. The royalty rate from Helsinn-Birex was, as\npreviously scheduled, reduced in half effective January 1, 2005, resulting in\nlower royalties in the quarter, as expected.\nCost of sales totalled $313,000 in the first quarter of fiscal 2006 and\nwas relatively flat, when compared to the first quarter of 2005, when cost of\nsales totalled $315,000.\nResearch and development costs in the first quarter of fiscal 2006\ntotalled $640,000 for a decrease of $90,000, when compared to the first\nquarter of fiscal 2005, when research and development costs totalled $730,000.\nThe Company expects to increase research and development spending in fiscal\n2006, as its Topical Interferon Alpha-2b and L-DOS47 product candidates\ncontinue to be developed.\nOperating, general and administration expenses in the first quarter of\nfiscal 2006 totalled $866,000, for an increase of $72,000 when compared to the\nfirst quarter of 2005, when operating, general and administration expenses\ntotalled $794,0...