- revenues increase by 37% over same quarter in Fiscal 2008 -
(all figures are in Canadian dollars unless otherwise noted)
BELLEVILLE, ON, Nov. 7 /PRNewswire-FirstCall/ - Bioniche Life Sciences Inc. (TSX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced financial results for the first quarter of its 2009 fiscal year, ending September 30, 2008.
"Our revenues are up by 37% over the first quarter of Fiscal 2008," said Patrick Montpetit, Chief Financial Officer of Bioniche Life Sciences Inc. "A restructuring of the Animal Health team in the past year has invigorated the Company's longest operating division, producing extraordinary growth across all product lines and all markets this quarter."
The Company's first quarter results are being reported on the heels of a significant milestone achievement: The granting of a full Canadian license for its E. coli O157 cattle vaccine, trademarked Econiche.
"Econiche is the world's first licensed vaccine to reduce the shed of E. coli O157 by cattle and thus, reduce the potential contamination of the environment, food and water supplies," said Graeme McRae, Chairman, President & CEO of Bioniche Life Sciences Inc. "Human exposure and infection with E. coli O157:H7 can result in serious health consequences, including abdominal pain and severe bloody diarrhea. In severe cases, kidney damage can occur and progress to serious complications and even death. We are seeing regular outbreaks of human infection, most recently in North Bay, Ontario and Niagara-on-the-Lake, Ontario, both related to food consumption at restaurants."
Fiscal 2009 Financial Results Highlights
Consolidated revenues for the first quarter totaled $8.1 million, an increase of 37% from the $5.9 million recorded in the same period in Fiscal 2008.
The overall gross profit margin was 54.3% for the first quarter of
Fiscal 2009, as compared to 57.6% for the same
|SOURCE Bioniche Life Sciences Inc.|
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