6mo results
Helix Biopharma Corp HBP
Shares issued 13,743,415 Mar 27 close $1.10
Mon 31 Mar 97 News Release
Mr Terrence Owen reports
For the six months ending January 31 1997, revenues were $3.9 million from
$3.8 million for fiscal 1996. Revenues remained flat with low growth in
pharmaceutical sales due to unanticipated registration delays at the Health
Protection Branch.
Earnings decreased from $339,178 to a loss of $895,175 due to increased
marketing and administration expenses over the period, specifically one
time costs associated with personnel changes in the company's laboratory
products division. Other costs in this period reflect an increased emphasis
on the company's investor relations and communications program, start-up
marketing costs for the gastro-intestinal product Pro-Lax, and costs
associated with new licencing opportunities.
Investment in research and development increased 107% for the same period
to $399,200, reflecting the company's continuing commitment to this area.
The total impact on net earnings for the period was a decrease from
$125,485 to a loss of $1,294,375.
Looking to the third quarter, the company is optimistic regarding growth in
pharmaceutical sales, with anticipated HPB approval for ophthalmic products
licenced from Bausch and Lomb Pharmaceuticals, which will impact favourably
on revenues. Additionally, the company continues to experience sales growth
in its DNA identity testing services.
The company anticipates future expansion into medical genetic testing for
disease predispositions. This growth, combined with the company's work with
anti-infective compounds licenced from PENCE and the University of Alberta,
will result in increasing revenue levels with a corresponding growth of
shareholder value.
FINANCIAL HIGHLIGHTS
Six months ended January 31
Revenue $3,918,605 $3,897,551
Expenses 4,813,781 3,558,373
Earnings (895,175) 339,178
R and D 399,200 192,832
Net Earnings (1,294,375) 125,485
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