Helix last quarter loss improves 7.5%

Canadian drugmaker Helix BioPharma says that, for the three months ended October 31, 2006, it recorded a loss of C$1.3 million ($1.1 million) or C$0.04 per common share, a 7.5% improvement on the deficit it saw a year ago, in the first quarter of fiscal 2006. During the period, its revenues were down a little but with slightly lower margins.

According to the firm, excluding foreign exchange loss and net interest income, overall expenses were relatively flat in the first quarter of fiscal 2007, with higher operating, general and administration costs along with R&D expenses being offset by the reduction in the amortization expense of intangible assets.

Cost of sales totalled C$290,000 in the fiscal quarter were mainly impacted by product mix, while the Canadian dollar remained relatively unchanged in the comparative quarters. On a percentage basis, margins in the first quarter of fiscal 2007 were 58.3% versus 57.5% in 2006.