Business
Helix BioPharma reports Q2 2008 highlights, financial results
AURORA, ON, March 10 /CNW/ - Helix BioPharma Corp. (TSX, FSE: "HBP") today reported its highlight...
About this update from Helix Biopharma Corp.
[{"type":"text","content":"\n\n\n\nAURORA, ON, March 10 /CNW/ - Helix BioPharma Corp. (TSX, FSE: "HBP")\ntoday reported its highlights and financial results for the three and six\nmonths ended January 31, 2008.\n\n\nHIGHLIGHTS\n\nThe Company's highlights for the quarter included:\n\n- The signing of an agreement with KBI BioPharma for the development of\n a clinical packaging format for L-DOS47, Helix's therapeutic\n candidate for lung adenocarcinoma;\n\n- The strengthening of the Company's cash position with the completion\n of a CDN$16.9 million private placement of common shares on\n December 19, 2007; and\n\n- A shareholder vote in favor of management at the annual general\n meeting on January 29, 2008.\n\n\n"We have a solid base on which we can continue the advancement of our\nlead clinical compounds," said John Docherty, President of Helix BioPharma.\n"Recent developments include our receipt of positive Phase II data for our\nTopical Interferon Alpha-2b, the preparation of a format of L-DOS47 that is\nsuitable for clinical testing, and the strengthening of our balance sheet. We\nare currently developing plans for Topical Interferon in an expanded patient\npopulation and we are anticipating L-DOS47 entering the clinic in a Phase I\nstudy."\n\n\nRESULTS FROM OPERATIONS\n\n\nThree and six months ended January 31, 2008, compared to same periods in\n\n\nprevious year\n\n\nTotal revenue was negatively impacted by lower sales of Orthovisc(R) in\nCanada for both the three and six month periods ended January 31, 2008.\nOverall expenditures were lower in the second quarter ended January 31, 2008\nand is mainly attributable to higher costs in the same period a year ago,\nassociated with the Company's annual shareholder meeting. On a year-to-date\nbasis, overall expenditures were marginally lower, with the one-time charge in\nthe first quarter of fiscal 2008 related to the resignation of the Company's\nChairman being more than offset by the previous fiscal year's cost associated\nwith the Company's annual shareholder meeting.\n\n\nLoss for the period\n\n\nThe Company recorded a loss of $1,526,000 and $3,170,000, respectively,\nfor the three and six month periods ended January 31, 2008, for a loss per\ncommon share of $0.04 and $0.08, respectively. In the comparative three and\nsix month periods ended January 31, 2007, the Company r...