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

ever, for equity financings for companies such as Helix is challenging, and there can be no assurance that additional funding by way of equity financing will be available. The failure of the Company to obtain additional funding on a timely basis may result in the Company reducing, delaying or cancelling one or more of its planned research, development and marketing programs and reducing related personnel, any of which could impair the current and future value of the business. Any additional equity financing, if secured, may result in significant dilution to the existing shareholders at the time of such financing. The Company may also seek additional funding from other sources, including technology licensing, co-development collaborations, and other strategic alliances, which, if obtained, may reduce the Company's interest in its projects or products. There can be no assurance, however, that any alternative sources of funding will be available.

The Company's unaudited interim consolidated balance sheet as at April 30, 2009, and audited consolidated balance sheet as at July 31, 2008, are summarized below:

    Consolidated Balance Sheets as at
    ($ thousands)
                         30-Apr   31-Jul                      30-Apr   31-Jul
                           2009     2008                        2009     2008
    Current assets:                      Current liabilities:
     Cash and cash
      equivalents        19,598   19,057   Accounts payable    2,351      598
     Accounts receivable    452      349   Accrued liabilities   308      546
     Inventory              822      458                       2,659    1,144
     Prepaid and other      482      446
                         21,354   20,310

    Non current assets    1,584    1,356   Shareholders'
                                           equity             20,279   20,522
                         22,938   21,666                      22,938   21,666

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SOURCE  Helix BioPharma Corp.
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