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

at a price of $2.87.

Based on the Company's currently planned expenditures and assuming no unanticipated expenses, the Company estimates its cash reserves will be sufficient to meet anticipated cash needs for working capital and capital expenditures for the next twelve months. The Company has no external sources of liquidity such as bank lines of credit. The Company will require future additional financing to carry out its business plan. The market for both debt and equity financings for companies such as Helix has always been challenging, and the global economic downturn and credit crisis have added further challenges. There can be no assurance that a financing, whether debt or equity, will be available on acceptable terms or at all.

The Company's consolidated fiscal 2009, 2008, and 2007 financial statements are summarized below.

    Consolidated Statements of Operations
    (thousand $, except for per share data)

                                              2009     2008     2007
                                              ----     ----     ----
    Revenue:
      Product revenue                        3,244    2,952    2,764
      License fees & royalties                 597      639      512
      Research and development contracts         -        -      148
                                                --       --      ---
                                             3,841    3,591    3,424

    Expenses:
      Cost of sales                          1,516    1,239    1,139
      Research and development              10,322    5,064    4,116
      Operating, general and admin           3,917    3,948    3,570
      Sales and marketing                      969      809      848
      Amortization of intangibles               12       16      159
      Amortization of capital assets           274      254      287
      Stock-based compensation               1,023       44       47
      Interest income               
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SOURCE Helix BioPharma Corp.
Copyright©2009 PR Newswire.
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