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Helix BioPharma Corp. Announces Fiscal Q1 2010 Results
Date:12/9/2009

atory clinical trial will be required to establish efficacy and safety of the product for marketing authorization purposes. Helix intends to continue to make preparations to conduct a European Phase III trial for this purpose, although the timing of filing the European Phase III CTA has not yet been established. The timing of both the planned U.S. and European trials will be contingent on the timing of regulatory approvals of the trials as well as obtaining additional capital.
  • Enrollment in the ongoing Phase II clinical trial in patients with anogenital warts ("AGW") in Sweden and Germany was completed subsequent to the Company's first quarter of fiscal 2010.
  • Financing

    • 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

    During the first quarter of fiscal 2010, the Company recorded a loss of $3,473,000 or $0.06 per common share, resulting in a higher loss of $1,152,000 when compared to the first quarter of fiscal 2009. The Company recorded a loss of $2,321,000, or $0.05 per common share in the first quarter of fiscal 2009.

    Revenues in the first quarter of fiscal 2010 totalled $1,020,000 (2009 - $1,119,000), resulting in a decrease of $99,000 or 8.8% when compared to the first quarter of fiscal 2009.

    Product revenues totalled $903,000 in the first quarter of fiscal 2010 and represents 88.5% of total revenues. When compared to the first quarter of fiscal 2009, product revenues decreased by $18,000 or 2.0%. Sales of both Klean-Prep® and Imunovir® were marginally higher in the quarter, however these were offset by the net decrease in combined
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    SOURCE Helix BioPharma Corp.
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