Helix BioPharma Records Quarterly Loss of $2.67 Million

- March 10th, 2015

Helix BioPharma Corp. (TSX:HBP) announced its financial results for the second quarter of the 2015 fiscal year, which ended on January 31, 2015. It recorded a net loss and total comprehensive loss of $2,665,000 for the period.

Helix BioPharma Corp. (TSX:HBP) announced its financial results for the second quarter of the 2015 fiscal year, which ended on January 31, 2015. It recorded a net loss and total comprehensive loss of $2,665,000 for the period.

Highlights for the quarter include:

  • The European Phase I/II clinical study in Poland has enrolled 35 patients and is currently enrolling patients in the 11th dosing cohort. The company intends to enroll further patients in additional cohorts until MTD is reached.
  • The Company has initiated two sites for its U.S. Phase I study, the first being the University of Texas, MD Anderson Cancer Center and the second being at Penn State University’s Milton S. Hershey Medical Center.
  • At the Company’s annual general meeting of shareholders held on December 18, 2014, Messrs. Yvon Bastien, Sylwester Cacek, Slawomir Majewski, Marek Orlowski, Sven Rohmann, Robert A. Verhagen and Stacy L. Wills were elected as directors of the Company.
  • Cantor Fitzgerald & Co. (‘Cantor’) was engaged by the Company to assist in exploring growth opportunities.

Speaking further about financials, the company said:

Operating, general and administration expenses for the three and six-month periods ended January 31, 2015 totalled $1,181,000 and $2,067,000, respectively ($1,011,000 and $1,837,000 respectively for the three and six-month periods ended January 31, 2014). Higher operating, general and administration expenses for both the three and six-month periods ended January 31, 2015 when compared to the three and six month periods ended January 31, 2014 is mainly the result of stock-based compensation expense for options granted to non-management directors, expenditures related to investor relations and financial advisory services, together with a retainer fee paid to Cantor.

Click here to read the full Helix BioPharma Corp. (TSX:HBP) press release. 

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