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"We have a solid base on which we can continue the advancement of our leadclinical compounds," said John Docherty, President of Helix BioPharma. "Recentdevelopments include our receipt of positive Phase II data for our TopicalInterferon Alpha-2b, the preparation of a format of L-DOS47 that is suitablefor clinical testing, and the strengthening of our balance sheet. We arecurrently developing plans for Topical Interferon in an expanded patientpopulation and we are anticipating L-DOS47 entering the clinic in a Phase Istudy."
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Total revenue was negatively impacted by lower sales of Orthovisc(R) inCanada for both the three and six month periods ended January 31, 2008.Overall expenditures were lower in the second quarter ended January 31, 2008and is mainly attributable to higher costs in the same period a year ago,associated with the Company's annual shareholder meeting. On a year-to-datebasis, overall expenditures were marginally lower, with the one-time charge inthe first quarter of fiscal 2008 related to the resignation of the Company'sChairman being more than offset by the previous fiscal year's cost associatedwith the Company's annual shareholder meeting.
Loss for the period
The Company recorded a loss of $1,526,000 and $3,170,000, respectively,for the three and six month periods ended January 31, 2008, for a loss percommon share of $0.04 and $0.08, respectively. In the comparative three andsix month periods ended January 31, 2007, the Company recorded a loss$1,900,000 and $3,242,000, respectively, for a loss per common share of $0.05and $0.09, respectively.
Revenues
Total revenues for the three month period ended January 31, 2008 was$791,000, compared to revenues of $892,000 for the same period last year. Thisrepresents a decrease of $101,000, or 11.3%. Total revenues for the six monthperiod ended January 31, 2008, was $1,676,000, compared to $1,718,000 a yearago. This represents a decrease of $42,000, or 2.4%.
Product Revenue
Product revenue totaled $652,000 and $1,406,000, respectively, for thethree and six month periods ended January 31, 2008 and represent a decrease of$105,000 (13.9%) and $47,000 (3.2%), respectively, when compared to sameperiods last year. Higher revenues from the sale of Klean-Prep(TM) in Canadawere not sufficient to offset lower revenues from the sale of Orthovisc(R) inthe three and six month periods ended January 31, 2008.
License Fees and Royalty Revenue
License fees and royalties totaled $139,000 and $270,000, respectively,for the three and six month periods ended January 31, 2008, and represent aslight increase of $4,000 (3.0%) and $5,000 (1.9%), respectively, whencompared to same periods a year ago. The license fees and royalties for boththe three and six month periods ended January 31, 2008, and 2007 are comprisedsolely of royalties related to sales of Klean-Prep(TM) outside of Canada.
Cost of sales and margins
Cost of sales totaled $269,000 and $582,000, respectively, for the threeand six month periods ended January 31, 2008, compared to $310,000 and$600,000, respectively, for the same periods last year. Margins, on percentagebasis, have remained relatively stable in both the three and six month periodsended January 31, 2008, when compared to 2007.
Research & development
Research & development costs for the three and six month periods endedJanuary 31, 2008, totaled $1,029,000 and $1,811,000, respectively, compared to$1,065,000 and $1,973,000, respectively, a year ago. In the three and sixmonth periods ended January 31, 2008, research & development expenditures forboth L-DOS47 and Topical Interferon Alpha2-b were less than in the s
