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Senetek PLC Reports Second Quarter 2009 Financial Results
Date:8/14/2009

d 2008 was 66% and 62%, respectively, of revenue. Skincare gross profit rate for the three months ended June 30, 2009, increased to 94% from 83% for the three months ended June 30, 2008, due to sales of higher margin Pyratine-6 and Pyratine XR products in the current quarter. Pharmaceutical gross profit was 55% and 53%, respectively, for the three months ended June 30, 2009 and 2008.

The Company reported that there continues to be great interest in Invicorp(R) for the European Market and that the Company is diligently working to restore an out-of-stock situation due to its former licensee, Ardana BioScience Limited, entering receivership. Senetek expects to have finished product manufactured in the fourth quarter of 2009 and, thus, to begin receiving corresponding revenues for Named Patient Supplies in the UK and commercial sales in Denmark. The Company noted a recent addition to the general approval process in Europe that could impact future sales of Invicorp, creating a potential opportunity to accelerate approval in some countries such as Turkey, a country with a population of more than 36 million males. Invicorp is a highly safe and effective treatment for erectile dysfunction ("ED") that has received marketing authorization in Denmark and authorization for Named Patient Supply in the UK.

"The second quarter saw the Company take a variety of actions aimed at preparing for sales growth as we initiated the rollout of clinically-proven PyratineXR, our next generation Cytokinin-based skincare technology, into the marketplace," said Frank Massino, Chairman and CEO, Senetek PLC. "We enter the second half of the year with focus and momentum as we launch our first marketing campaign for PyratineXR, which has been shown to be highly beneficial for all skin types, while being ideal for sensitive skin caused by inflammatory skin conditions such as rosacea and acne, which result in facial redness in millions of people."


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SOURCE Senetek PLC
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