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Helix BioPharma announces Q1 2008 financial results
Date:12/17/2007

d L-DOS47 product candidates continue to be developed.

Operating, general & administration

Operating, general and administration expenses in the first quarter of fiscal 2008 totaled $1,313,000 (2007 - $906,000), for an increase of $407,000. The increase is mainly attributable to a one time charge of $434,000 relating to the resignation of the Company's Chairman.

Amortization of intangible and capital assets

Amortization of intangible assets in the first quarter of fiscal 2008 totaled $7,000 (2007 - $40,000). The variance is due to certain intangible assets which have now been fully amortized. Amortization of capital assets in first quarter of fiscal 2008 totaled $66,000 (2007 - $77,000).

Stock-based compensation

Stock-based compensation expense in the first quarter of fiscal 2008 totalled $12,000 (2007 - $12,000). The stock-based compensation expense relates to the ongoing amortization of compensation costs of stock options granted on June 30, 2005, over their vesting period.

Interest income

Interest income in the first quarter of fiscal 2008 totaled $104,000 and remained flat when compared to the first quarter of fiscal 2007 which totaled $102,000.

Foreign exchange loss

Foreign exchange losses in the first quarter of fiscal 2008 totaled $108,000 (2007 - $45,000). Foreign exchange losses resulting from the foreign currency translation of the Company's integrated foreign operation in Ireland were offset by foreign exchange gains related to the Canadian dollar appreciation versus the U.S. dollar. The Company's net assets in Europe consist mainly of cash and cash equivalents, denominated in Euro currency and are used to fund clinical trials of Topical Interferon Alpha-2b in Europe.

Income taxes

Income tax expense in the first quarter of fiscal 2008 totaled $32,000 (2007 - $29,000). All income taxes are attributable to the Company's operations in Europe.

Other comprehensive income
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SOURCE Helix BioPharma Corp.
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