Interim results for the first quarter 2011 for Biotec Pharmacon ASA
(Thomson Reuters ONE) -
HIGHLIGTHS
ENZYMES
* Continued strong growth, with sales revenue up 67% from Q1 2010
* Grant of NOK 7.2 million from the Research Council of Norway for development
of marine enzymes will increase the research and development capacity and
strengthen the product pipeline
* Entered into new supply agreement for the proprietary HL-dsDNase enzyme
with a large customer for use in new kits for contamination control in
qPCR
BETA-GLUCANS
* A few very promising alternatives for a final formulation of a wound healing
device will be tested in an animal model late in Q2 to determine the exact
final formulation
* Data from the stability studies clarified that the adjusted formulation is
stabile in all tested container types, including the commercially preferable
soft polyethylene tubes. Process initiated to decide on the final design and
size of tubes
* The partnering process is continuing in a positive manner, generating
important feedback and guidance to the product development process
FINANCIAL DEVELOPMENT AND POSITION
* Improvement in pre-tax result to NOK -3.0 million from NOK -12.8 million in
Q1 2010
* Oversubscribed repair issue of 1.2 million shares in February generated
proceeds of NOK 7.0 million, giving a cash balance of NOK 46 million at the
end of the quarter
OUTLOOK
* Enzymes: Increased commercial activities will support ArcticZymes'
aggressive growth targets going forward
* Beta-Glucans: Conclude product formulation. Partnering processes are moving
forward in a positive manner
Please find attached the full interim report for the first quarter 2011.
For further information, please contact:
Svein W. F. Lien - CEO: +47 922 89 323
The company hosts a presentation of the interim results on May 13th at
09:00 at Linken Konferansesenter, Sykehusveien 23, Tromsø.
The presentation will also be available as webcast with log on at www.biotec.no.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Interim_Report_Q1_2011:
http://hugin.info/136141/R/1515474/451732.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Biotec Pharmacon ASA via Thomson Reuters ONE
[HUG#1515474]
Unternehmensinformation / Kurzprofil:
Datum: 12.05.2011 - 18:22 Uhr
Sprache: Deutsch
News-ID 54621
Anzahl Zeichen: 3092
contact information:
Town:
Tromsø
Kategorie:
Business News
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