Business
Helix BioPharma announces Q2 2006 financial results
Helix BioPharma announces Q2 2006 financial results.
About this update from Helix Biopharma Corp.
[{"type":"text","content":"\n\n\n\n\nAURORA, ON, March 14 /CNW/ - Helix BioPharma Corp. (TSX, FSE: \"HBP\")\ntoday announced financial results for the second quarter of fiscal 2006, ended\nJanuary 31, 2006.\n\nHIGHLIGHTS IN THE QUARTER\n-------------------------\n - Completed private placement financing during the quarter for gross\n proceeds of $5,524,000.\n\n - Signed an agreement for the development of a cGMP manufacturing\n process for L-DOS47, in support of upcoming pre-clinical animal\n studies and planned future Investigational New Drug regulatory\n filings to commence human studies.\n\n - Signed a collaboration agreement with the National Research\n Council of Canada to assist in the ongoing characterization of a\n specific lung cancer antibody for L-DOS47 in addition to further\n novel tumour targeting antibodies.\n\nRESULTS FROM OPERATIONS\nThree and six month periods ended January 31, 2006 and comparative\nperiods\nThe Company recorded a loss of $1,311,000 and $2,762,000 respectively for\nthe three and six month periods ended January 31, 2006 for a loss per common\nshare of $0.04 and $0.09, respectively. In the comparative three and six month\nperiods ended January 31, 2005, the Company realized a loss of $1,513,000 and\n$2,866,000 respectively for a loss per common share of $0.06 and $0.11,\nrespectively.\nRevenues for the three month period ended January 31, 2006 totalled\n$1,105,000, resulting in an increase of $222,000 or 25.1% when compared to\ntotal revenues for the three month period ended January 31, 2005 of $883,000.\nOn a year to date basis, total revenues were $2,011,000. This represents an\nincrease of $150,000 or 8.1% when compared to total year to date revenues of\n$1,861,000 for the comparative period in fiscal 2005. Higher product revenues\nfrom the sale of Orthovisc(R) and research development work for Apotex Inc.\nwere slightly offset by lower royalty revenues resulting from the royalty rate\nreduction for Klean-Prep(TM) sales in Europe.\nCost of sales totalled $405,000 (44.6% of product revenue) and $755,000\n(45.9% of product revenue) respectively for the three and six month periods\nended January 31, 2006. For the three and six month periods ended January 31,\n2005, cost of sales totalled $297,000 (49.7% of product revenue) and $612,000\n(48.5% of product revenue) respectively. The Company's improved product\nmargins are ma...