Helix BioPharma Announces Q2 2009 Financi...() and $255000 (18.1%) respectively when ...)

Date:3/16/2009

) and $255,000 (18.1%) respectively, when compared to the three and six month periods ended January 31, 2008. This is primarily driven by higher revenues from the sale of Orthovisc(R) in both the three and six month periods ended January 31, 2009.

License Fees and Royalty Revenue

License fees and royalties totaled $123,000 and $321,000 respectively for the three and six month periods ended January 31, 2009 and represent a decrease of $16,000 (11.5%) and increase of $51,000 (18.9%) respectively, when compared to the three and six month periods ended January 31, 2008. The license fees and royalties for both the three and six month periods ended January 31, 2009 and 2008 are comprised solely of royalties related to sales of Klean-Prep(TM) outside of Canada except in the first quarter of fiscal 2009 which includes a US$75,000 termination payment from Lumera Corporation.

Research and Development Contract Revenue

The Company had no research and development contract revenue in both the first quarters of fiscal 2009 and 2008.

Cost of sales and margins

Cost of sales totaled $338,000 and $785,000 respectively for the three and six month periods ended January 31, 2009 (three and six month periods ended January 31, 2008: $269,000 and $582,000 respectively). Margins, on a percentage basis, for the three and six month periods ended January 31, 2009 were 54.3% and 52.7% (three and six month periods ended January 31, 2008: 58.7% and 58.6% respectively). The decrease in margins reflects higher purchase costs resulting from a lower Canadian dollar versus the U.S. dollar.

Research & development

Research & development costs for the three and six month periods ended January 31, 2009 totaled $2,734,000 and $4,502,000, respectively (three and six month periods ended January 31, 2008: $1,109,000 and $1,989,000 respectively). Approximately 50% and 41%
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SOURCE Helix BioPharma Corp. Copyright©2009 PR Newswire. All rights reserved

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