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Helix Biopharma announces Q1 2007 financial results
Helix Biopharma announces Q1 2007 financial results.
About this update from Helix Biopharma Corp.
[{"type":"text","content":"\n\n\n\nAURORA, ON, Dec. 13 /CNW/ - Helix BioPharma Corp. (TSX, FSE: \"HBP\") today\nannounced financial results for the first quarter of fiscal 2007, ended\nOctober 31, 2006.\n\n\nHIGHLIGHTS\n----------\n\n- Initiated enrollment in Phase II clinical trial with Topical\n Interferon Alpha-2B in patients with ano-genital warts\n\n- Announced the completed enrolment and treatment of the Phase II\n clinical study with Topical Interferon Alpha-2b in patients with low-\n grade squamous intraepithelial lesions and the expected timing of\n when the results will be reported (early 2007).\n\n- Completed a private placement financing for gross proceeds of\n $7,044,500.\n\n\nRESULTS FROM OPERATIONS\n\n\nThree month period ended October 31, 2006 compared to the same period in\n\n\nthe previous year\n\n\nDuring the first quarter of fiscal 2007, the Company recorded a loss of\n$1,342,000 or $0.04 per common share, resulting in a decrease of $109,000 or\n7.5% when compared to the first quarter of fiscal 2006, when the Company\nrecorded a loss of $1,451,000, or $0.05 per common share.\n\n\nRevenues were marginally lower in the first quarter of fiscal 2007 when\ncompared to the first quarter of 2006 with slightly lower margins. Excluding\nthe foreign exchange loss for the quarter and net interest income, overall\nexpenses were relatively flat in the first quarter of fiscal 2007 compared to\nfiscal 2006, with higher operating, general and administration costs along\nwith research and development costs being offset by the reduction in the\namortization expense of intangible assets.\n\n\nCost of sales totalled $290,000 in the first quarter of fiscal 2007 \n(2006 - $313,000). Margins were mainly impacted by product mix, while the\nCanadian dollar remained relatively unchanged in the comparative quarters. On\na percentage basis, margins in the first quarter of fiscal 2007 were 58.3%\n(2006 - $57.5%).\n\n\nResearch and development costs in the first quarter of fiscal 2007\ntotalled $871,000 (2006 - $640,000) for an increase of $231,000. Higher\nresearch and development costs in the first quarter of fiscal 2007 mainly\nreflect L-DOS47 initiatives currently underway and preparatory work for the\nPhase II trial in Sweden, for an additional therapeutic application of Topical\nInterferon Alpha-2b. The Company expects to increase its R&D spending through...