Photocure ASA - Third quarter 2010 results
Oslo, Norway, 27 October 2010.
Highlights for Photocure's third quarter 2010:
(numbers for 2009 are adjusted for sale of Metvix/ Aktilite)
· License agreement for Lumacan(TM) signed with Salix Pharmaceuticals in October
· Positive results from interim analysis of phase II study published on Cevira(TM)
· Hexvix end user sales Year-to-date growing 32%
· Total revenues of NOK 11.4 million (NOK 12.5 million)
· Operating loss of NOK 15.9 million (NOK 12.2 million)
· Cash & cash equivalents of NOK 310.9 million per 30 September 2010
Key figures
| NOK 000 (unaudited) | Q3 10 | Change | Q3 09 | YTD 2010 | Change | YTD 2009 |
| Total revenues | 11 363 | -9 % | 12 462 | 123 008 | 363 % | 34 038 |
| Gross profit | 9 830 | -10 % | 10 893 | 117 413 | 385 % | 30 391 |
| R&D expenses | 12 999 | -23 % | 16 957 | 52 260 | 9 % | 47 873 |
| Operating profit | -15 850 | -29 % | -12 231 | 27 186 | N/A | -49 036 |
| Net profit | -11 568 | N/A | 355 337 | 34 810 | -90 % | 334 630 |
| EPS, diluted (NOK) | -0.52 | 16.08 | 1.57 | 15.15 |
Please find the full financial report enclosed.
Photocure ASA will present its third quarter 2010 report on Wednesday 27th of October 2010 at Shippingklubben, Haakon VIIs gate 1 (top floor), Oslo, Norway. The presentation will begin at 11.30 (CET) and representatives from the company will be Kjetil Hestdal, President & CEO and Christian Fekete, CFO.
The presentation will be publicly available at www.photocure.com. It will be possible to follow the presentation through a live webcast.
For more information, please contact:
Kjetil Hestdal, President and CEO
E-mail: kh@photocure.no
Mobile: +47 913 19535
Christian Fekete, CFO
E-mail: cf@photocure.no
Mobile: +47 916 42 938
About Photocure
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 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. 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.
Photocure®, the Photocure logo and Hexvix® are registered trademarks of Photocure ASA.