Biopure Announces 2007 Third Quarter Financi... ( CAMBRIDGE Mass. Aug. 23 /- Biopur...)

Biopure Announces 2007 Third Quarter Financial Results

Date:8/23/2007

CAMBRIDGE, Mass., Aug. 23 /PRNewswire-FirstCall/ -- Biopure Corporation (Nasdaq: BPUR) today announced its financial results for the third fiscal quarter ended July 31, 2007. For the quarter, the company reported a net loss of $6.4 million, or $0.08 per common share, compared with a net loss of $6.6 million, or $0.16 per common share, for the corresponding period in 2006. Class A common shares outstanding on July 31, 2007 and 2006 were 77,960,126 and 41,789,370, respectively.

Revenues

Total revenues for the third quarter of 2007 were $550,000, including $470,000 from sales of the company's veterinary product Oxyglobin(R) and $58,000 from sales of Hemopure(R) in South Africa. Total revenues for the same period in 2006 were $396,000, including $312,000 from Oxyglobin sales and $1,000 from sales of Hemopure(R). The increase in Hemopure sales reflects the company's marketing efforts and increasing use of the product. Oxyglobin revenues increased during the third fiscal quarter of 2007 compared to 2006 due to a higher average selling price for product sold in the U.S.

Cost of revenues was $3.1 million for the third quarter of fiscal 2007, compared to $2.9 million for the same period in 2006. Cost of revenues includes costs of both Oxyglobin and Hemopure. The increase is mainly due to higher salaries expense and plant costs.

Expenses

Research and development expenses were $1.6 million for the third quarter of fiscal 2007 compared to $1.8 million during the same period in 2006. Expenses during the third fiscal quarter of 2006 include costs related to the marketing authorization application the company submitted to the United Kingdom regulatory authority in 2006, for which there are no comparable
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Biopure Announces 2007 Third Quarter Financi...( CAMBRIDGE Mass. Aug. 23 /- Biopur...),Health