Photocure ASA - Third quarter 2010 results

Mittwoch, 27.10.2010 08:05 von Hugin

Oslo, Norway, 27 October 2010.

Highlights for Photocure's third quarter 2010:
(numbers for 2009 are adjusted for sale of Metvix/ Aktilite)

 ·      License  agreement for Lumacan(TM) signed  with Salix Pharmaceuticals in
October

 ·        Positive results from interim analysis  of phase II study published on
Cevira(TM)

 ·       Hexvix end user sales Year-to-date growing  32%

 ·       Total revenues of NOK 11.4 million (NOK 12.5 million)

 ·       Operating loss of NOK 15.9 million (NOK 12.2 million)

 ·       Cash & cash equivalents of NOK 310.9 million per 30 September 2010



Key figures

+-------------------+-------+------+-------+--------+------+--------+
|NOK 000 (unaudited)|  Q3 10|Change|  Q3 09|YTD 2010|Change|YTD 2009|
+-------------------+-------+------+-------+--------+------+--------+
|Total revenues     | 11 363|  -9 %| 12 462| 123 008| 363 %|  34 038|
+-------------------+-------+------+-------+--------+------+--------+
|Gross profit       |  9 830| -10 %| 10 893| 117 413| 385 %|  30 391|
+-------------------+-------+------+-------+--------+------+--------+
|R&D expenses       | 12 999| -23 %| 16 957|  52 260|   9 %|  47 873|
+-------------------+-------+------+-------+--------+------+--------+
|Operating profit   |-15 850| -29 %|-12 231|  27 186|   N/A| -49 036|
+-------------------+-------+------+-------+--------+------+--------+
|Net profit         |-11 568|   N/A|355 337|  34 810| -90 %| 334 630|
+-------------------+-------+------+-------+--------+------+--------+
|EPS, diluted (NOK) |  -0.52|      |  16.08|    1.57|      |   15.15|
+-------------------+-------+------+-------+--------+------+--------+
 Please find the full financial report enclosed.

Photocure ASA will present its third quarter 2010 report on Wednesday 27th of
October  2010 at Shippingklubben, Haakon VIIs gate 1 (top floor), Oslo, Norway.
The presentation will begin at 11.30 (CET) and representatives from the company
will be Kjetil Hestdal, President & CEO and Christian Fekete, CFO.

The presentation will be publicly available at www.photocure.com. It will be
possible to follow the presentation through a live webcast.


For more information, please contact:

Kjetil Hestdal, President and CEO
E-mail:kh@photocure.no
Mobile: +47 913 19535

Christian Fekete, CFO
E-mail:cf@photocure.no
Mobile: +47 916 42 938

www.photocure.com

About Photocure

Photocure is a Norwegian pharmaceutical company listed on the Oslo Stock
Exchange (OSE: PHO). The company develops and sells pharmaceuticals and medical
devices for the photodynamic treatment and diagnosis of cancer and selected
dermatology indications.

Photocure's commercial activities includes own marketing and sales in selected
markets as well as out-licensing 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 in EU. In addition, the
company has developed a proprietary light source, which is used in combination
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 on the Photocure Technology(TM) platform.

Photocure®, the Photocure logo and Hexvix® are registered trademarks of
Photocure ASA.

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


[HUG#1455588]





3rd Quarter Results: 
http://hugin.info/131151/R/1455588/395454.pdf




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Source: Photocure ASA via Thomson Reuters ONE