Helix BioPharma Announces Q1 2009 Financial Results

About this update from Helix Biopharma Corp.

[{"type":"text","content":"\n\n\n\nAURORA, Ontario, Dec. 11 /CNW/ -- Helix BioPharma Corp. (TSX, FSE: "HBP")\ntoday announced financial results for the first quarter of fiscal 2009, ended\nOctober 31, 2008.\n\n\n\nRECENT HIGHLIGHTS\n-- On October 2, 2008, the Company closed a private placement for gross\n proceeds of CDN$11.4 million.\n\n-- Dr. Chao presented L-DOS47's mechanism of action at the Second\n Conference of Lung Cancer in Warsaw, Poland.\n\n-- Helix filed a Form 20-F registration statement with the U.S.\nSecurities\n and Exchange Commission.\n\n\nResults from Operations\n\n\nThree month period ended October 31, 2008 compared to the same period in\nthe previous year\n\n\n\nLoss for the period\n\n\nDuring the first quarter of fiscal 2009, the Company recorded a loss of\n$2,321,000 or $0.05 per common share, resulting in a higher loss of $677,000\nwhen compared to the first quarter of fiscal 2008. The Company recorded a\nloss of $1,644,000, or $0.05 per common share in the first quarter of fiscal\n2008.\n\n\n\nRevenues\n\n\nRevenues in the first quarter of fiscal 2009 totaled $1,119,000 (2008 -\n$885,000), resulting in an increase of $234,000 or 26.4% when compared to the\nfirst quarter of fiscal 2008.\n\n\n\nProduct Revenue\n\n\nProduct revenues totaled $921,000 in the first quarter of fiscal 2009 and\nrepresent 82.3% of total revenues. When compared to the first quarter of\nfiscal 2008, product revenues increased by $167,000 or 22.1% and are primarily\ndriven by higher Orthovisc(R) product sales.\n\n\n\nLicense Fees and Royalty Revenue\n\n\nLicense fees and royalties totaled $198,000 in the first quarter of\nfiscal 2009 and represent 17.7% of revenues. When compared to the first\nquarter of fiscal 2008, license fees and royalties were higher by $67,000 or\n51.1%. License fees and royalty revenues are comprised solely of royalties\nrelated to sales of Klean-Prep(TM) outside of Canada except in the first\nquarter of fiscal 2009 which includes a US$75,000 termination payment from\nLumera Corporation.\n\n\n\nResearch and Development Contract Revenue\n\n\nThe Company had no research and development contract revenue in both the\nfirst quarters of fiscal 2009 and 2008.\n\n\n\nCost of sales and margins\n\n\nCost of sales totaled $447,000 in the first quarter of fiscal 2009 (2008\n- $313,000). Margins, on a percentage basis, in the first quarte...

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