Haemacure Reports on Strategic Collaboration with Angiotech Pharmaceuticals, Inc. and Second Quarter 2009 Financi...(li. Second Quarter Results .....),Health

Second Quarter Results

Revenues amounted to $18,765, as compared to $28,368 for the same quarter last year. Revenues were exclusively derived from the sale of legacy fibrin sealant application devices. Operating expenses amounted to $1.3 million, down from $2.5 million for the same quarter last year. The decrease was mainly attributable to the absence of stock-based compensation expenses in the second quarter, as compared to the same quarter last year, and to major cost cutting measures implemented in February 2009 to preserve cash. The consolidated net loss for the quarter amounted to $1.2 million, or $0.01 per share, as compared to $2.5 million, or $0.02 per share, for the same quarter last year.

Financial Position

Cash, cash equivalents and investments amounted to $204,069 as of April 30, 2009, as compared to $4.6 million as at October 31, 2008.

About Haemacure

Haemacure Corporation is a specialty biotherapeutics company developing high-value human plasma-derived protein products for commercialization. Haemacure's research and development effort is driven by its proprietary plasma protein extraction technology to develop next-generation products, including surgical haemostats. Haemacure's lead product candidate, Hemaseel(R)HMN, is a fibrin sealant in pivotal clinical trials stage. Haemacure's second product candidate is thrombin, a component of its fibrin sealant, now in preclinical stage. Follow-on development is focussed on the use of fibrin sealant in adhesion prevention, aesthetics, combination with biomaterials, drug delivery, regenerative medecine, skin graft fixation for burn injuries, and wound healing. Haemacure has identified eleven additional specialty proteins and enzymes in one if its two plasma fractions and seeks to advance these proteins and enzymes through partnerships with pharmaceutical and biotechnology companies. Haemacure is headquartere
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