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Bioniche Reports Fiscal 2007 Year-End Results
Date:9/26/2007

856,518 1,245,451

Amortization of deferred financing fees 1,048,658 1,357,835

Foreign exchange loss (gain) (55,375) 192,841

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18,490,797 19,625,478

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Loss before research and development expenses

and other items (3,190,336) (4,301,163)

Research and development expenses, gross 14,935,158 12,915,955

Less: government incentives, net (1,727,403) (833,148)

Loss on sale of investment 192,157 -

Gain on sale of rights to future royalty stream (2,127,587) -

Debt refinancing - 2,493,920

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Loss from continuing operations before income

taxes (14,462,661) (18,877,890)

Provision for income taxes 298,333 112,094

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Loss from continuing operations (14,760,994) (18,989,984)

Income from discontinued operations - 17,846,603

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Net loss (14,760,994) (1,143,381)

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Basic and fully diluted net income (loss) per share

Continuing operations (0.32) (0.50)

Discontinued operations
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SOURCE Bioniche Life Sciences Inc.
Copyright©2007 PR Newswire.
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