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Helix BioPharma announces Q3 2006 financial results
Helix BioPharma announces Q3 2006 financial results.
About this update from Helix Biopharma Corp.
[{"type":"text","content":"\n\n\n\n\nAURORA, ON, June 7 /CNW/ - Helix BioPharma Corp. (TSX, FSE: \"HBP\") today\nannounced financial results for the third quarter of fiscal 2006, ended \nApril 30, 2006.\n\nHIGHLIGHTS\n----------\n - Received milestone payment from the biochip license agreement with\n Lumera Corporation\n\n - Announced the appointment of Noonan Russo, a division of Euro RSCG\n Life PR, to assist in expanding the Company's profile among the\n scientific research, pharmaceutical and investment communities in\n the USA.\n\nRESULTS FROM OPERATIONS\nThree and nine month periods ended April 30, 2006 and comparative periods\nThe Company recorded a loss of $1,360,000 and $4,122,000 respectively for\nthe three and nine month periods ended April 30, 2006 for a loss per common\nshare of $0.04 and $0.13, respectively. In the comparative three and nine\nmonth periods ended April 30, 2005, the Company realized a loss $1,175,000 and\n$4,041,000 respectively for a loss per common share of $0.04 and $0.15,\nrespectively.\nRevenues for the three month period ended April 30, 2006 totalled\n$1,099,000, resulting in an increase of $97,000 or 9.7% when compared to total\nrevenues for the three month period ended April 30, 2005 of $1,002,000. On a\nyear to date basis, revenues totalled $3,110,000. This represents an increase\nof $248,000 or 8.7% when compared to total year to date revenues of $2,862,000\nfor the comparative period in fiscal 2005. Higher product revenues from the\nsale of Orthovisc(R), research development work for Apotex Inc. and milestone\npayments from the Company's license of biochips to Lumera Corporation were\noffset by lower royalty revenues from Klean-Prep(TM) sales in Europe.\nCost of sales totalled $284,000 (42.7% of product revenue) and $1,039,000\n(45.0% of product revenue) respectively for the three and nine month periods\nended April 30, 2006. For the three and nine month periods ended April 30,\n2005, cost of sales totalled $283,000 (45.4% of product revenue) and $895,000\n(47.5% of product revenue). The Company's improved product margins are mainly\ndue to higher product sales volumes and the continuing appreciation of the\nCanadian dollar.\nResearch and development expenses totalled $1,025,000 and $2,380,000\nrespectively for the three and nine month periods ended April 30, 2006 for an\nincrease of $443,000 and $252,000 respectiv...