Oslo, Norway, October 28, 2009
Photocure ASA (Oslo Stock Exchange: PHO) today presents its results for the third quarter 2009. A presentation will take place today in Oslo, Norway, beginning at 11.30 am (CET) and webcast through the Company's website www.photocure.com.
The main items in the report are:
Highlights
(Q3 2008 figures in parenthesis)
Main financial figures:
NOK 000 (unaudited) |
Q3 09 |
Change |
Q3 08 |
YTD 2009 |
Change |
YTD 2008 |
Total revenues |
389 257 |
1547 % |
23 629 |
447 218 |
548 % |
69 030 |
Gross profit |
385 431 |
1922 % |
19 057 |
433 855 |
677 % |
55 870 |
R&D expenses |
19 301 |
19 % |
16 188 |
52 203 |
-11 % |
58 795 |
Operating profit |
353 749 |
N/A |
-12 749 |
333 509 |
N/A |
-52 905 |
Net profit |
355 337 |
N/A |
-12 090 |
334 630 |
N/A |
-55 136 |
EPS, diluted (NOK) |
16.08 |
|
-0.55 |
15.15 |
|
-2.49 |
Please also see attached full 3rd quarter report.
President and CEO of Photocure, Kjetil Hestdal MD, PhD, says in a comment to the results, "This has been an exciting quarter for Photocure; We have sold our first commercial product, Metvix, for EUR 51 million. The consideration from the sale enables Photocure to return a dividend to our shareholders, initiate a stock repurchase program, and taking steps to become av speciality pharma company within dermatology as well as accelerating the development of our pipeline products in cancer."
Photocure is a Norwegian pharmaceutical company listed on the Oslo Stock Exchange (OSE: PHO). The company develops and sells pharmaceuticals and medical devices for the photodynamic treatment and diagnosis of cancer and selected dermatology indications.
Photocure's commercial activities includes own marketing and sales in selected markets as well as out-licensing to leading pharmaceutical companies on a regional or global basis prior to phase III.
Photocure has one proprietary pharmaceutical product on the market: Hexvix®, for the diagnosis of bladder cancer. Hexvix is approved in EU and under priority review by FDA in the US. In addition, the company has developed a proprietary light source, which is used in combination with the Visonac(TM) cream. Through worldwide studies, Photocure is continuously testing its products for new indications, and the aim is to develop a pipeline of follow-on products based on the Photocure Technology(TM) platform.
For more information about Photocure, visit our website at www.photocure.com.
For further information, contact:
Photocure ASA
Attn. Kjetil Hestdal (President and CEO) or Christian Fekete (CFO)
Hoffsveien 48
NO-0377 Oslo, Norway
www.photocure.com
E-mail: kh@photocure.no or cf@photocure.no
www.photocure.com
E-mail: kh@photocure.no or cf@photocure.no
Telephone: +47 22 06 22 10
Kjetil Hestdal mobile +47 913 19 535 - Christian Fekete mobile +47 916 42 938
Kjetil Hestdal mobile +47 913 19 535 - Christian Fekete mobile +47 916 42 938