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

pril 30, 2008: foreign exchange gains of $220,000 and $265,000, respectively). Foreign exchange losses for the three and nine month periods ended April 30, 2009 mainly reflect the lower Canadian dollar exchange rate relative to the US dollar with the largest impact affecting the most recent two quarters where the US dollar appreciated materially against all global currencies.

Income taxes

Income tax expense in the three and nine months ended April 30, 2009 totaled $29,000 and $83,000 respectively (three and nine month periods ended April 30, 2008: $27,000 and $89,000 respectively). All income taxes are attributable to the Company's operations in Ireland.

CASH FLOW

Operating activities

Cash used in operating activities in the three and nine month periods ended April 30, 2009 totaled $3,555,000 and $8,429,000, respectively (three and nine month periods ended April 30, 2008: $2,167,000 and $4,883,000 respectively). The increase in cash used in operating activities for the three and nine month periods ended April 30, 2009 compared to 2008, is mainly the result of higher research and development expenditures along with higher operating, general and administrative expenditures.

Financing activities

Financing activities in the three and nine month periods ended April 30, 2009 totaled $nil and $9,659,000 (three and nine month periods ended April 30, 2008: $nil and $14,614,000 respectively). All financing activities relate to two separate private placements in the given periods.

Investing activities

Use of cash in investing activities for the three and nine month periods ended April 30, 2009 totaled $416,000 and $490,000 (2008 - $42,000 and $101,000 respectively). All use of funds in investing activities represents capital acquisitions in the given periods.

LIQUIDITY, CAPITAL RESOURCES AND OUTLOOK

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SOURCE Helix BioPharma Corp.
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6. Helix BioPharma announces Q1 2008 financial results
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