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Helix BioPharma Corp. Announces Fiscal 2009 Results
Date:10/29/2009

study is expected to complete the minimum 12 patients by the end of the third quarter of fiscal 2010.
  • Enrollment in the ongoing Phase II clinical trial of Topical Interferon Alpha-2b in patients with anogenital warts ("AGW") in Sweden and Germany is progressing on track. The Company expects the last patient to be enrolled on or around the end of the first quarter of fiscal 2010. The study has now enrolled over 93% of the required 120 patients.
  • Financing

    • Completed a private placement financing on October 2, 2008 for gross proceeds of $11,424,000.
    • Completed a private placement financing on September 8, 2009 for gross proceeds of $13,581,250.
    • Prof. Majewski, stepped down from the Board of Directors to assume the advisory role of European medical director, effective August 11, 2009.
    • Prof. Kazimierz Roszkowski-Sliz was appointed to the Board of Directors on August 17, 2009.

    FINANCIAL REVIEW

    For fiscal 2009, the Company recorded a net loss of $14,102,000, which represents an increase of $7,138,000 when compared to fiscal 2008. The net loss per common share for fiscal 2009 was $0.27 and represents an increase of $0.11 in loss per common share when compared to fiscal 2008. Product revenue contributed to the increase in revenue in fiscal 2009 and overall expenses were higher when compared to fiscal 2008 which mainly reflect higher research and development expenditures, stock-based compensation expense associated with stock options granted in the second quarter, lower interest income and a foreign exchange loss.

    Total revenues in fiscal 2009 were $3,841,000 and represent an increase of $250,000 or 7.0% when compared to total revenues in fiscal 2008 of $3,591,000. Product revenue contributed to the increase in revenue in fiscal 2009 when compared to fiscal 2008 and was offset slightly by a decrease in license fees and royalties.


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