Oslo, Norway, April 29, 2009 Photocure ASA (Oslo Stock Exchange: PHO) today presents its results for the first quarter 2009. A presentation will take place today in Oslo, Norway, beginning at 17.00 am (CET) and webcast through the Company's website www.photocure.no. The main items in the report are:
- Sales revenues increased 36% to NOK 29.1 million (NOK 21.4 million)
- Operating profit improved by NOK 16.7 million to NOK -5.7 million (NOK -22.5 million)
- Liquid funds amounted to NOK 161.9 million at the end of the period.
- Cevira(TM) - patient recruitment started in phase I/II study for photodynamic treatment of precancerous lesions of the cervix.
- Lumacan(TM) - patient recruitment started in phase I/II study for photodynamic detection of colon cancer using an oral capsule as administration of the drug.
- Photocure won a patent case extending the patent on Metvixia(TM) in the USA until July 2018.
President and CEO of Photocure, Kjetil Hestdal MD, PhD, says in a comment to the results,"We are pleased to present another quarter with growth in sales of Hexvix and Metvix/Aktilite. Photocure has now a positive contribution to the operating profit in the Nordic region, reflecting the previous investment in marketing and sales."
Photocure ASA is a Norwegian pharmaceutical company founded in 1993 and listed on Oslo Stock Exchange. The company develops and sells pharmaceuticals and medical devices based on proprietary photodynamic technologies, targeting key dermatology and oncology markets.
Photocure has two products with sales and marketing approvals: Metvix®, which is a product developed for the treatment of skin cancer (basal cell carcinoma) and pre-cancerous skin lesions (actinic keratosis), and Hexvix®, which is developed for the detection of bladder cancer. Both products are based on the same photodynamic technology, combining the drug known as a photosensitiser with a light source that activates the photosensitiser. Photocure aims to develop a pipeline of follow-on products and technologies.
Photocure®, Metvix®, Hexvix® and Aktilite® are registered trademarks of Photocure ASA.
For further information, contact: Photocure ASA Attn. Kjetil Hestdal (President and CEO) or Christian Fekete (CFO) Hoffsveien 48 NO-0377 Oslo, Norway
E-mail: email@example.com or firstname.lastname@example.org Telephone: +47 22 06 22 10
Kjetil Hestdal mobile +47 913 19 535 - Christian Fekete mobile +47 916 42 938