PhotoCure reports on 1st-qtr developments

Norway's PhotoCure has reported a loss of 14 million Norwegian kroner($1.5 million) for the first quarter of 2001, a period when its total expenses reached 23 million kroner. Year-earlier comparative figures are not given. Liquid funds totalled 380 million kroner as of March 31.

Chief executive Vidar Hansson commented: "we are pleased to report that our projects, both in dermatology and urology, are on track." He added that PhotoCure is approaching the first regulatory approval of Metvix PDT, the firm's aminolaevulinic acid-based product for the treatment of actinic keratoses (sun spots).

In Phase III clinical trials conducted in Australia, the product was found to be superior to cryotherapy in treating actinic keratoses in terms of efficacy and cosmetic outcome, and European Phase III studies have shown efficacy similar with cryotherapy and surgery, but with superior cosmetic outcome.