Helix first quarter results
Helix Biopharma Corp HBP
Shares issued 13,776,415 Dec 21 close $0.35
Wed 23 Dec 98 News Release
An anonymous director reports
The first quarter results demonstrate that management is continuing to
control expenses while increasing revenues. Revenues increased 19 per cent
over the same period last year due to increased royalties from product
licencing agreements.
Expenses (excluding research and development) fell dramatically over the
first quarter of fiscal 1998. These expenses were reduced by more than
$500,000 as a result of much tighter cost containment. Revenues are now
approximately equal to expenses (excluding research and development).
Research and development expenses increased 6 per cent over the first
quarter of 1998, reflecting costs incurred to further advance the company's
core technologies, in particular its patented drug delivery systems and
molecular sensor technology.
The company had $1,020,849 in cash and treasury bills on hand as at Oct.
31, 1998, versus $2,488,341 at Oct. 31, 1997. In addition to cash flow from
operations, Helix continues to receive monthly payments from Lifecodes
Corporation from the sale of the DNA identity testing business.
McGivney Wilcock Investor Relations of Toronto has been appointed as the
company's investor relations adviser.
STATEMENT OF EARNINGS
Three months ended Oct. 31
1998 1997
Revenue $383,380 $322,060
Expenses
(excluding R & D) 391,479 900,567
R and D 357,829 336,817
--------- ---------
(365,928) (915,324)
Earnings from dis-
continued
operations - 3,742
--------- ---------
(Loss) before
income taxes (365,928) (915,324)
Income taxes 10,968 15,796
--------- ---------
Net (loss) $(376,896) $(927,378)
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(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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