Results 4th quarter and full year 2009

Published: 19 February 2010Financial Investment & Stock

Oslo, Norway, February 19, 2010

 

Photocure ASA (Oslo Stock Exchange: PHO) today presents its results for the fourth quarter 2009 and for the full year 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.no.

 

The main items in the report are:

 

Highlights for the fourth quarter 2009

(2008 figures in brackets)

·         The divestment of Metvix®/Aktilite® in September 2009 changes the earnings profile and improves the financial position of the company.

·         Photocure's strategy is to build a Specialty Pharma company.

·         Hexvix® received positive feedback from FDA on 30 December, 2009.

·         Revenue of NOK 14.6 million (33.2) in the fourth quarter and NOK 98.8 million in 2009 (100.9)

·         Net result of NOK -19.1 million (-9.2) in the fourth quarter 2009, and NOK 316.6 million in 2009 (-59.6)

·         Paid dividend of NOK 4 per share in December, 2009

·         Cash holding of NOK 403.5 million per 31 December, 2009

 

Key figures

Figures in NOK '000

4th quarter 2009

4th quarter 2008

2009

2008

Revenues

14 556

33 190

98 798

102 220

Gross profit

12 460

27 277

83 329

83 147

Research and development costs

- 27 289

- 25 505

- 79 492

- 78 341

Sales and marketing costs

- 8 012

- 12 559

- 41 640

- 45 916

Operating result (EBIT)

- 29 918

- 14 469

- 59 943

- 62 539

Result

- 19 105

-9 246

316 574

- 59 562

Earnings per share, diluted (NOK)

- 1.01

- 0.42

14.15

- 2.70

Please see the full report attached.

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.
 
For more information about Photocure, visit our website at www.photocure.com.

 

Photocure®, the Photocure logo and Hexvix® are registered trademarks of Photocure ASA.

 

For further information, contact:

Attn. Kjetil Hestdal (President and CEO) or Christian Fekete (CFO)

Kjetil Hestdal mobile +47 913 19 535 - Christian Fekete mobile +47 916 42 938

E-mail: kh@photocure.no or cf@photocure.no

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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