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Helix BioPharma Corp. Announces Fiscal Second Quarter 2021 Results
RICHMOND HILL, ON / ACCESSWIRE / March 16, 2021 / Helix BioPharma Corp. (TSX:"HBP"), an immu...
About this update from Helix Biopharma Corp.
[{"type":"text","content":"Helix BioPharma Corp. Announces Fiscal Second Quarter 2021 ResultsRICHMOND HILL, ON / ACCESSWIRE / March 16, 2021 / Helix BioPharma Corp. (TSX:\"HBP\"), an immuno-oncology company developing drug candidates for the prevention and treatment of cancer, today announced its financial results for the fiscal second quarter ended January 31, 2021.OVERVIEWThe Company reported a net loss and total comprehensive loss of $2,492,000 and $2,714,000 for the three and six-month periods ended January 31, 2021. For the three and six-month periods ended January 31, 2020, net loss and total comprehensive loss totalled $2,255,000 and $4,466,000, respectively. The net loss and total comprehensive loss for the three-month period ending January 31, 2021 included a net loss of $626,000 (2020 - $nil) and for the six-month period ending January 31, 2021 a net gain of $1,536,000 (2020 - $nil) as a result of the loss of control of a subsidiary and ultimately, a final tranche disposition on December 22, 2020 for gross proceeds of $2,308,000.Subsequent to the quarter ending January 31, 2021, BDO Canada LLP resigned as the Company's auditors. The Company has engaged Marcum LLP as its new auditors.Research and developmentResearch and development expense for the three and six-month periods ended January 31, 2021 totalled $1,086,000 and $2,170,000, respectively, as compared to $1,588,000 and $3,099,000 respectively for the three and six-month periods ended January 31, 2020, respectively.Components of research and development expenses: For the three-month For the six-month period ended January 31 period ended January 31 2021 2020 2021 2020 Research & development programs (excluding below) $727,000 $1,322,000 $1,416,000 $2,528,000 Salaries and benefits $299,000 $292,000 $613,000 $549,000 Stock-based compensation expense $7,000 $40,000 $11,000 $79,000 Amortization of property, plant and equipment $17,000 $34,000 $34,000 $48,000 Amortization of right of use assets $36,000 $32,000 $68,000 $54,000 Investment tax credits / government grants $-132,000 $28,000 $-159,000 $1,086,000 $1,588,000 $2,170,000 $3,099,000 The reduction in research and development expenditures for both the three and six-month periods ended January 31, 2021 when compared to the prior year, is mainly the result of lower clinical study and intellectual property expenditures.Lower clinical operati...