Helix Biopharma Corp -
Helix increases six-month revenue
Helix Biopharma Corp HBP
Shares issued 13,776,415 1999-03-26 close $0.65
Monday Mar 29 1999
An anonymous director reports
For the six months ended Jan. 31, 1999, revenues increased nearly 24 per cent over the same period in 1998 due to increased royalties from product and service licencing agreements.
Expenses are down by nearly $1-million, more than 40 per cent lower than 1998. Research and development costs are lower in the second quarter due to the effects of renegotiating collaboration agreements with the company's academic and research partners.
Helix has received a commitment of approximately $1.7-million from the Protein Engineering Network of Centers of Excellence to match Helix's expenditures toward the development of Helix's molecular sensor technology.
At the end of the second quarter, the company had $793,891 in cash and treasury bills and a commitment from investors in a subsidiary company, Sensium Technologies Inc., for a cash investment of $925,000. Helix continues to collect its note receivable in monthly instalments from Lifecodes Corporation from the sale of the DNA identity testing business.
CONSOLIDATED INCOME STATEMENT
Six months ended Jan. 31
1999 1998
Revenue $ 828,354 $ 669,292
----------- -----------
Expenses (excluding
research and
development) 892,014 1,648,883
Research and
development 421,941 639,878
----------- -----------
(485,600) (1,619,470)
Earnings from
discontinued
operations - 90,625
----------- -----------
(Loss) before
income taxes (485,600) (1,528,845)
Income taxes 20,367 -
----------- -----------
Net (loss) $ (505,967) $(1,528,845)
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Loss per share
From continuing
operations (4 cents) (12 cents)
After discontinued
operations (4 cents) (11 cents)
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