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Helix BioPharma Announces Q3 2009 Financial Results and Provides Product Development Update
Date:6/15/2009

ed.

Topical Interferon Alpha-2b Product Development Update - Ano-Genital Warts Indication ("AGW")

Helix is continuing to progress with its ongoing Phase II trial of Topical Interferon Alpha-2b in patients with ano-genital warts. The trial is underway in Sweden and Germany. As a result of the initiatives undertaken to improve the recruitment rate in the trial, over 50% of the patients sought have now been enrolled. Although the patient recruitment has accelerated considerably since German clinical sites were added, the rate of recruitment has not been as high as expected. The Company is continuing to aggressively recruit the remaining patients and now believes, based on recent performance, that patient enrolment will be complete by the end of Helix's first fiscal quarter 2010.

RESULTS FROM OPERATIONS

Three and nine month periods ended April 30, 2009 compared to the same period in the previous year

Loss for the period

The Company recorded a loss of $4,134,000 and $10,707,000 respectively, for the three and nine month periods ended April 30, 2009, for a loss per common share of $0.08 and $0.21, respectively. In the comparative three and nine month periods ended April 30, 2008, the Company recorded a loss of $1,139,000 and $4,309,000, respectively, for a loss per common share of $0.03 and $0.11, respectively.

Revenues

Total revenues for the three month period ended April 30, 2009 totaled $924,000 (2008 - $1,018,000), resulting in a decrease of $94,000 or 9.2%. Total revenues for the nine month period ended April 30, 2009 totaled $2,906,000 (2008 - $2,694,000), resulting in an increase of $212,000 or 7.9%.

Product Revenue

Product revenue totaled $793,000 and $2,454,000 respectively for the three and nine month periods ended April 30, 2009 and represent an increase of $18,000 (2.3%) and $273,000 (12.5%)
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SOURCE Helix BioPharma Corp.
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