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Helix BioPharma Announces Q1 2009 Financial Results
Date:12/11/2008

AURORA, Ontario, Dec. 11 /PRNewswire-FirstCall/ -- Helix BioPharma Corp. (TSX, FSE: "HBP") today announced financial results for the first quarter of fiscal 2009, ended October 31, 2008.

RECENT HIGHLIGHTS

  • On October 2, 2008, the Company closed a private placement for gross proceeds of CDN$11.4 million.

  • Dr. Chao presented L-DOS47's mechanism of action at the Second Conference of Lung Cancer in Warsaw, Poland.

  • Helix filed a Form 20-F registration statement with the U.S. Securities and Exchange Commission.

Results from Operations

Three month period ended October 31, 2008 compared to the same period in the previous year

Loss for the period

During the first quarter of fiscal 2009, the Company recorded a loss of $2,321,000 or $0.05 per common share, resulting in a higher loss of $677,000 when compared to the first quarter of fiscal 2008. The Company recorded a loss of $1,644,000, or $0.05 per common share in the first quarter of fiscal 2008.

Revenues

Revenues in the first quarter of fiscal 2009 totaled $1,119,000 (2008 - $885,000), resulting in an increase of $234,000 or 26.4% when compared to the first quarter of fiscal 2008.

Product Revenue

Product revenues totaled $921,000 in the first quarter of fiscal 2009 and represent 82.3% of total revenues. When compared to the first quarter of fiscal 2008, product revenues increased by $167,000 or 22.1% and are primarily driven by higher Orthovisc(R) product sales.

License Fees and Royalty Revenue

License fees and royalties totaled $198,000 in the first quarter of fiscal 2009 and represent 17.7% of revenues.
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SOURCE Helix BioPharma Corp.
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