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Biotech / Medical : BIOMIRA RESEARCH (BIOM) -- Ignore unavailable to you. Want to Upgrade?

To: chirodoc who wrote (65)	5/8/2000 12:13:00 PM
From: chirodoc	Read Replies (1) \| Respond to of 72

Biomira Inc. announces 1st quarter results EDMONTON, May 4 /CNW-PRN/ - Biomira Inc. (NASDAQ: BIOM) (TSE: BRA) today reported financial results for the three months ended March 31, 2000. Results are reported in Canadian dollars with a March 31, 2000 rate of $1.00 Canadian equaling $0.69 U.S. Financial results for the three months ended March 31, 2000 reflect a consolidated net loss from operations of $9.4 million or $0.20 per share compared to $5.7 million or $0.13 per share, for the same period in 1999. The increased loss in 2000 is attributable to a planned increase in expenditures related to the expansion of the Company's THERATOPE(R) vaccine clinical trial to over 110 sites worldwide, the acceleration of patient enrollment into the THERATOPE(R) vaccine trial and the advancement of the Company's BLP25 vaccine through Phase II trials. Biomira's cash position remains strong with $66.5 million in cash reserves as at March 31, 2000. The Company's cash position was strengthened during the 1st quarter with the issue of 2.79 million shares for proceeds of $43.5 million under the Company's previously announced $145 million (U.S. $100 million) equity line. ``Biomira currently has three product candidates in clinical development. THERATOPE(R) vaccine is at the midpoint of enrolling 900 evaluable patients in an international Phase III Trial with metastatic breast cancer. The Phase I trial for our idiotypic liposomal vaccine is also enrolling patients. We are excited about the progress of BLP25 vaccine in Phase II trials. Targeting large cancer markets, we look forward to moving these products further through their clinical development as the year progresses,'' said Alex McPherson, MD, PhD, President and CEO of Biomira. Biomira is a biotechnology company specializing in the development of innovative therapeutic approaches to cancer management. The Company is currently enrolling approximately 900 evaluable patients in a multinational Phase III trial with THERATOPE(R) vaccine, as well as developing a portfolio of complementary vaccine candidates, including BLP25 for non-small cell lung cancer, now in Phase II trials. The commitment to the treatment of cancer currently focuses on the development of synthetic vaccines and novel strategies for cancer immunotherapy. We are The Cancer Vaccine People(TM).