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Bioniche Reports Fiscal 2008 Third Quarter
Date:5/9/2008

- sales increase over Q3 '07; gross profit remains stable; net loss per

share improves -

(all figures are in Canadian dollars unless otherwise noted)

BELLEVILLE, ON, May 9 /PRNewswire-FirstCall/ - Bioniche Life Sciences Inc. (TSX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced financial results for the third quarter of its 2008 fiscal year, ending March 31, 2008.

"One highlight of our third quarter was the notification by the U.S. Department of Agriculture (USDA) that our E. coli O157:H7 cattle vaccine is eligible for a conditional license," said Graeme McRae, President & CEO of Bioniche Life Sciences Inc. "Another important event was the granting by the U.S. Food and Drug Administration (FDA) of a Fast Track designation for our second Phase III clinical trial in bladder cancer with our proprietary Mycobacterial Cell Wall-DNA Complex (MCC) - trademarked Urocidin. These regulatory breakthroughs are significant in facilitating market access for our two priority technologies."

Fiscal 2008 Third Quarter Financial Results Highlights

For the three-month and nine-month periods ended March 31, 2008, consolidated revenues totalled $7.2 million and $19.6 million respectively, compared to $6.4 million and $20.1 million for the corresponding periods in Fiscal 2007. The increase in sales in the current quarter reflects increased sales of animal health products in the U.S. and export markets.

For the three-month and nine-month periods ended March 31, 2008, overall gross profit totalled $4.2 million and $11.4 million respectively, compared to $3.7 million and $11.4 million for the corresponding periods in Fiscal 2007. For the three-month and nine-month periods ended March 31, 2008, overall gross profit as a percentage of sales remained stable at 57.8% and 58.2% respectively, compared to 58.2% and 57.1% for the corresponding periods in Fiscal 2007. The gr
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SOURCE Bioniche Life Sciences Inc.
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Related medicine news :

1. Bioniche Appoints U.S. President of Food Safety
2. Bioniche Reports the Passing of its Board Chair
3. Bioniche Converts a Portion of its Debt to Equity
4. Bioniche Receives Fast Track Designation For First-Line Bladder Cancer Therapy
5. Bioniche Pharma Chooses TrackWise for its Deviation Control Solution
6. Bioniche Provides Update on Refractory Bladder Cancer Trial with Urocidin(TM)
7. Bioniche Reports Fiscal 2008 Second Quarter
8. USDA Agrees to Grant Conditional License to Bioniche for its E. coli O157:H7 Cattle Vaccine
9. Bioniche Amends Terms of Convertible Debt with Laurus Master Funds
10. Bioniche Receives $5 Million of Federal Government Support to Scale-up Vaccine Production in Ontario
11. Bioniche Reports Fiscal 2008 First Quarter
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