Photocure ASA - Results 3rd quarter 2009
(Thomson Reuters ONE) - Oslo, Norway, October 28, 2009Photocure ASA (Oslo Stock Exchange: PHO) today presents its resultsfor the third quarter 2009. A presentation will take place today inOslo, Norway, beginning at 11.30 am (CET) and webcast through theCompany's website www.photocure.com.The main items in the report are:Highlights(Q3 2008 figures in parenthesis)* Sale of Metvix®/Aktilite® to Galderma for EUR 51 million.* Total revenues of NOK 389.3 million (NOK 23.6 million)* Operating profit of NOK 353.7 million (NOK -12.7 million)* Cash & cash equivalents of NOK 512 million per 1 October 2009, consisting of NOK 140.3 million at 30 September 2009, in addition to EUR 44 million in cash from Galderma on 1 October 2009* Photocure's Board of Directors propose an extraordinary dividend of NOK 4.00/share and initiation of a stock repurchase program* Photocure's NDA for Hexvix® designated for priority review in the USMain financial figures:NOK 000 (unaudited) Q3 09 Change Q3 08 YTD 2009 Change YTD 2008Total revenues 389 257 1547 % 23 629 447 218 548 % 69 030Gross profit 385 431 1922 % 19 057 433 855 677 % 55 870R&D expenses 19 301 19 % 16 188 52 203 -11 % 58 795Operating profit 353 749 N/A -12 749 333 509 N/A -52 905Net profit 355 337 N/A -12 090 334 630 N/A -55 136EPS, diluted (NOK) 16.08 -0.55 15.15 -2.49Please also see attached full 3rd quarter report.President and CEO of Photocure, Kjetil Hestdal MD, PhD, says in acomment to the results, "This has been an exciting quarter forPhotocure; We have sold our first commercial product, Metvix, for EUR51 million. The consideration from the sale enables Photocure toreturn a dividend to our shareholders, initiate a stock repurchaseprogram, and taking steps to become av speciality pharma companywithin dermatology as well as accelerating the development of ourpipeline products in cancer."About PhotocurePhotocure is a Norwegian pharmaceutical company listed on the OsloStock Exchange (OSE: PHO). The company develops and sellspharmaceuticals and medical devices for the photodynamic treatmentand diagnosis of cancer and selected dermatology indications.Photocure's commercial activities includes own marketing and sales inselected markets as well as out-licensing to leading pharmaceuticalcompanies 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 inEU and under priority review by FDA in the US. In addition, thecompany has developed a proprietary light source, which is used incombination 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 onthe Photocure Technology(TM) platform.For more information about Photocure, visit our website atwww.photocure.com.Photocure®, the Photocure logo and Hexvix® are registeredtrademarks of Photocure ASA.For further information, contact:Photocure ASAAttn. Kjetil Hestdal (President and CEO) or Christian Fekete (CFO)Hoffsveien 48NO-0377 Oslo, Norwaywww.photocure.comE-mail: kh(at)photocure.no or cf(at)photocure.noTelephone: +47 22 06 22 10Kjetil Hestdal mobile +47 913 19 535 - Christian Fekete mobile +47916 42 938http://hugin.info/131151/R/1350604/325957.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 28.10.2009 - 07:01 Uhr
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