Navigation Links
Neptune Technologies & Bioressources Inc. reports third quarter results and update on strategic milestones

LAVAL, QC, April 14 /PRNewswire-FirstCall/ - Neptune Technologies & Bioressources Inc. ("Neptune") (NASDAQ.NEPT - TSX.V.NTB) today announced operational and financial results for the fiscal 2008 third quarter and nine-month period ended February 29, 2008 and provided an update on recent strategic milestones achieved.

Sales volume grew by 22% in the three-month period ended February 29, 2008 compared to the three-month period ended February 28, 2007 and 29% in the nine months ended February 29, 2008 compared to the same period a year earlier, which is not fully reflected in the revenues, due to the impact of the U.S. dollar devaluation on 85% of the sales. Total revenue for the three-month period ended February 29, 2008 was $2,875,000 compared to $2,889,000 for the third quarter ended February 28, 2007 and total revenue for the nine-month period ended February 29, 2008 was $7,129,000, representing an increase of 11.6%, compared to $6,388,000 for the nine-month period ended February 28, 2007.

The Company generated a net loss of $866,000, or $0.024 per share, for the three-month period ended February 29, 2008, compared to a net loss of $455,000, or $0.013 per share, for the three-month period ended February 28, 2007. Excluding non-monetary items, stock option based compensation and amortization, Neptune would have generated a profit of $194,000 for the three-month period ended February 29, 2008 and $285,000 for the nine-month period ended February 29, 2008. Neptune generated positive cash flow from operating activities during the three months ended February 29, 2008 and the Company's cash, cash equivalents and short-term deposits amounted to $3,316,000 at February 29, 2008.


Neptune has achieved several milestones so far during fiscal year 2008:

Signed strategic commercialization alliance with Croda Health Care

Neptune entered into an alliance with Croda Health Care, the omega-3 industry leader, which expects to launch five Essentially products in the United States in April followed by the European launch at Vitafoods in Geneva, Switzerland in May.

National Updates

Certain national NKO(R) distributors in Europe have successfully received country-based approval for labeling and commercialization of NKO(R) as a dietary supplement, namely in Sweden, Austria and France.

Agreement entered with Salt Lake City based Schiff Nutrition

International, Inc.

Schiff Nutrition is distributing Neptune Krill Oil under the brand name Schiff(R) MegaRed(TM) promoting cardiovascular and joint health. Schiff(R) MegaRed(TM) is currently available in a 300 mg dosage form at Costco in the U.S. nationwide.

Functional Food

Neptune continues its research collaborations with both of its functional food partners, Nestle and Yoplait. The clinical research and product development efforts are progressing as planned. The Company received its Gras ("generally recognized as safe") notification in January and the FDA has formally received Neptune's voluntary submission of the assessment document. With this regulatory clearance for commercialization in food in the U.S., Neptune expects to enter additional food partnerships in the future.

Pharmaceutical Initiatives

Neptune continues on its development path of advancing pharmaceutical products containing its marine phospholipid/ omega-3 bioactive ingredients. Neptune has several commercialization alternatives, including over-the-counter (OTC), prescription medical food and prescription drug options, and is progressing with submissions to obtain pharmaceutical approvals allowing commercialization. In that regard, Neptune recently announced that it had obtained complementary medicine approval in Australia and New Zealand and that Invida Pharmaceuticals, the holding company of Inovail and PharmaLink, successfully entered the market with OmegaGen(R) containing Neptune Krill Oil (NKO(R)). Neptune expects other strategic partners in the future.

The Company is protecting the composition of matter of its novel marine phospholipid/ omega-3 bioactives and has been granted a European patent covering novel phospholipids in multiple diseases and pharmaceutical applications, which is enforceable and validated in 24 European countries and precludes competition entering the market.

QmegaGen(R) launched in Australia and New Zealand through Inovail/


Inovail and PharmaLink (among the top five sales organizations in the Australian pharmaceutical industry) is promoting and marketing OmegaGen(R) containing Neptune Krill Oil (NKO(R)) as a complementary medicine. OmegaGen(R) is being initially distributed through retail pharmacies, health food stores and healthcare professionals with the short-term marketing objective of reaching 3,000 pharmacies. Additional products launches are expected in the near term.

About Neptune

Neptune researches and develops proprietary bioactive ingredients and products for nutraceutical, medical food and pharmaceutical applications. Through clinical research, Neptune is showing the clinical benefits of its products in various therapeutic indications with a focus on cardiovascular and cognitive health. The Company has been successful in patenting and protecting its intellectual property, and will continue to protect its innovations. Neptune has already obtained regulatory approvals allowing commercialization of its products and has filed for and is expecting additional approvals.

Neptune continues to strongly support its strategic development plan to form partnerships/strategic alliances with worldwide leaders in the nutraceutical and pharmaceutical industries. Neptune signed agreements with Nestle and Yoplait, worldwide leading food manufacturers, and paved its entrance into the global functional food market. According to its business strategy, negotiations with pharmaceutical companies with the objective of entering the pharmaceutical market by licensing rights are ongoing.

Neither NASDAQ nor TSX venture exchange accepts responsibility for the

adequacy or accuracy of this press release.

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports filed with the Securities and Exchange Commission and the Canadian securities commissions.

Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. The Omega-3 Industry Leader, Croda Health Care, selects Neptune Technologies Ingredients for New Essentially Brand
2. Neptune Technologies patent granted for novel phospholipids in multiple diseases and pharmaceutical applications
3. Neptune Technologies expands into medicinal markets in Asia Pacific
4. Neptune Technologies receives GRAS notification in the United States
5. Neptune Technologies & Bioressources Inc. obtains Complementary Medicine approval in Australia for NKO(R)
6. Neptune Technologies & Bioressources Inc. Secures Access to Nationwide Consumer Mass Market in the United States
7. Neptune strengthens scientific operations with the appointment of a new Scientific Advisory Board
8. Neptune Technologies & Bioressources Inc. Reports First Quarter Results and Business Update
9. Neptune Reports Year End Financial Results - Neptune Records 18% Sales Increase and 43% EBITDA Increase in Year End Results
10. Powersafe Technology Corp. Recapitalizes, Executes Merger Agreement with Amplification Technologies, and Invests in Amplification
11. Dilon Technologies Closes First Quarter With Record Sales
Post Your Comments:
(Date:11/24/2015)... ... , ... InSphero AG, the leading supplier of easy-to-use solutions for production, culture, ... serve as Chief Operating Officer. , Having joined InSphero in November 2013 ... was promoted to Head of InSphero Diagnostics in 2014. There she has built ...
(Date:11/24/2015)... - ProMetic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) ("ProMetic" ... , President and Chief Executive Officer of ProMetic, will be ... th Annual Healthcare Conference to be held at the ... st , at 8.50am (ET) and ProMetic,s management team ... presentation will be available live via a webcast accessible at ...
(Date:11/24/2015)... 2015 HemoShear Therapeutics, LLC, a privately ... metabolic disorders, announced today the appointment of ... Directors (BOD). Mr. Watkins is the former president ... (HGS), and also served as the chairman of ... , Chairman and CEO of HemoShear Therapeutics. "The ...
(Date:11/24/2015)... YORK , November 24, 2015 ... in a European healthcare ... which the companies will work closely together in identifying European ... unmet medical need. The collaboration is underpinned by a significant ... fund. This is the first investment by Bristol-Myers Squibb in ...
Breaking Biology Technology:
(Date:11/19/2015)... YORK , Nov. 19, 2015  Although some ... market is dominated by a few companies, according to ... companies own 51% of the market share of the ... The World Market for Molecular Diagnostic s ... "The market is still controlled by one company ...
(Date:11/17/2015)... PARIS , November 17, 2015 ... 17 au 19 novembre  2015.  --> Paris ... 2015.  --> DERMALOG, le leader de l,innovation ... à la fois passeports et empreintes sur la même ... pour les passeports et l,autre pour les empreintes digitales. ...
(Date:11/12/2015)...  A golden retriever that stayed healthy despite having ... provided a new lead for treating this muscle-wasting disorder, ... of MIT and Harvard and the University of São ... Cell, pinpoints a protective gene that boosts ... The Boston Children,s lab of Lou Kunkel , ...
Breaking Biology News(10 mins):