|
hier kleiner auszug aus den zahlen per 09.06.2006 cashposition am ende des auszuges Ibex Reports Sales Revenue Increase of 23% for the Quarter and 33% for the Nine Month Period 09:15 EDT Friday, June 09, 2006 MONTREAL, QUEBEC--(CCNMatthews - June 9, 2006) - IBEX Technologies Inc. (TSX:IBT), an innovator in the development of diagnostics for the management of cancer and arthritis, and a supplier of high-purity glycobiology enzymes, today reported its financial results for the third quarter and nine-months ended April 30, 2006. Paul Baehr, President and Chief Executive Officer, commented on the successful financial period, "Our higher product revenue for this past nine months of over $1.5 million is close to our entire product sales for the previous year, due to a continued increase in demand from pharmaceutical and medical device companies for our enzyme reagents and diagnostic assays and from the continuing growth of the glycobiology enzymes." During the third quarter, IBEX reported on the following events: - Further strengthening its intellectual property portfolio, IBEX received notice of allowance in May 2006 from the European Patent Office on the human kallikrein 15 (hK15) patent, which is licensed to IBEX from Mt. Sinai Hospital in Toronto. The patent has broad claims covering the gene and protein for therapeutic and diagnostic use. Corresponding patent applications have been filed in the United States and Canada. - The Company reported on the results of a rheumatoid arthritis (RA) clinical study confirming the utility of the IBEX's serum biomarkers for measuring degradation and synthesis of cartilage. This important study was published in the peer-reviewed journal, Arthritis Research and Therapy (8: R31, January 2006). The lead author, Dr. Suzan Verstappen, Department of Rheumatology and Clinical Immunology, University Medical Center Utrecht, the Netherlands commented that the use of these biomarkers may be of value when studying progression of joint damage in patients with rheumatoid arthritis. This study was important in confirming the predictive utility of IBEX's biomarker assays for monitoring RA disease progression and aligns with continued increased sales for the Company's arthritis products from leading pharmaceutical companies. - The Company also submitted an abstract on IBEX's biomarkers for possible presentation at the American College of Rheumatology's 70th Annual Scientific Meeting in Washington, DC to be held November 10-15, 2006. This abstract contained important scientific results relating to the use of certain IBEX biomarkers in urine. - To increase awareness of the Company to investors, IBEX participated in several key financial and industry conferences in the US, Canada and Europe including BIO 2006, BioFinance Canada 2006 and the Rodman & Renshaw 3rd Annual Global Healthcare Conference. Additional milestones and events for the rest of the calendar year include: - Initiation of lung cancer study to evaluate IBEX kallikreins as potential screening biomarkers in high risk lung cancer patients. This study is expected to begin in the second half of 2006. - Pursuit of licensing agreements for the development and commercialization of several kallikrein cancer diagnostics. - Release for sale of a new C2C urine assay and a new CP II ELISA kit by the end of the calendar year (for use in biopharmaceutical research and development). - Expansion of existing agreements with major partners for Heparinase I IBEX in point-of-care blood monitoring devices. - Expansion of customer base for Heparinase I IBEX. Subsequent to the end of the quarter the Company has decided not to advance its kallikrein therapeutic protein program. This decision was made as a result of the recent review of its latest preclinical data using the purified hk10 kallikrein. These data, while directionally positive, were not sufficient enough to warrant a continuation of the program by IBEX. This decision will reduce the Company's annual burn rate by more than $500,000 per year. The kallikrein diagnostic program is not affected by this decision and the Company continues to pursue what it believes are significant commercial opportunities in this area. Financial Results The unaudited interim consolidated financial statements are expressed in Canadian dollars. Solely for the convenience of the reader, selected financial results below have been translated into U.S. dollars at the April 2006 month-end rate C$1.00 equals US$0.8945. This translation should not be construed as an application of the recommendations relating to the accounting for foreign currency translation, but rather as supplemental information for the reader. Sales revenue recorded for the three-month period ended April 30, 2006 totaled C$496,185 (US$444,000) compared to C$403,225 in the third quarter of fiscal 2005, representing an increase of 23 percent. IBEX's glycobiology enzyme and arthritis sales revenues increased by 38 percent and six percent respectively, over the same period last year. Sales revenue for the nine-months ended April 30, 2006 totaled C$1,514,158 (US$1,354,000) versus C$1,138,963 for the same period in 2005, representing an increase of 33 percent. The 23 percent increase in sales revenue for the quarter and the 33 percent increase for the nine-month period were primarily driven by a 37 percent increase in IBEX's high purity glycobiology enzymes and a 25 percent increase in arthritis sales revenue, over the same period last year. Net loss for the third quarter of 2006 was C$854,461 (US$764,000) or C($0.04) per share, compared with a net loss of C$1.1 million or C($0.05) per share in the same period a year ago. The net loss for the nine-months ended April 30, 2006 was C$2.3 million (US$2.0 million) or C($0.10) per share compared to a net loss of C$3.1 million or C($0.15) per share for the same period in 2005. The Company's decreased net loss in both periods was mainly attributable to an increase in product revenues and a decrease in general and administrative expenses related to the company's successful defense against an unsolicited takeover attempt by a third party. Research and development expenses for the third quarter of fiscal 2006 were C$581,479 (US$520,000) versus C$544,292 in the same period a year ago. For the nine-months ended April 30, 2006, R&D expenses at C$1,678,645 (US$1.5 million) were in-line with same period prior year expenses at C$1,616,519. The current year expenses for both the arthritis and cancer programs individually are in-line with the expenses for the same period last year. Selling, general and administrative expenses and cost of goods sold for the third quarter of fiscal 2006 were C$745,494 (US$667,000) versus C$952,276 in the same period a year ago mainly due to higher business development expenses relating to a market research study in 2005 and a one-time severance payment made in the third quarter of fiscal year 2005. Selling, general and administrative expenses and cost of goods sold for the nine-months ended April 30, 2006 totaled C$2.0 million (US$1.8 million) compared to C$2.6 million for the same period in fiscal 2005. The decrease in expenses is partially as explained in the paragraph just above and mainly due to the Company successfully defending a hostile takeover bid by an unsolicited third party during the second quarter of fiscal 2005 which caused the Company to incur C$400,000 in expenses. IBEX's net cash burn was C$1.7 million over the nine-month period ended April 30, 2006. At April 30, 2006, IBEX cash, cash equivalents and marketable securities totaled C$5.5 million (US$4.9 million), and the Company's net working capital was C$4.8 million (US$4.3 million). The company believes it has adequate financial resources to support its current programs for at least 24 months. About IBEX IBEX is focused on the development of diagnostics for the management of cancer and arthritis. The Company's cancer program is based on a novel family of genes known as kallikreins. IBEX is developing kallikrein-based diagnostics for screening and monitoring cancer. The Company's arthritis program is based on a series of biomarkers of cartilage degradation and synthesis. IBEX markets a number of products, including its high-purity proprietary enzymes (heparinases and chondroitinases), as well as a series of arthritis and kallikrein-based assays. Heparinase I IBEX is used in many leading hemostasis monitoring devices, while IBEX arthritis assays are used by leading pharmaceutical companies for research purposes. For more information, please visit the Company's Web site at www.ibex.ca. Safe Harbor Statement All of the statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, are forward-looking statements. Such statements, based as they are on the current expectations of management, inherently involve numerous risks and uncertainties, known and unknown. Some examples of known risks are: the impact of general economic conditions, general conditions in the pharmaceutical industry, changes in the regulatory environment in the jurisdictions in which IBEX does business, stock market volatility, fluctuations in costs, and changes to the competitive environment due to consolidation or otherwise. Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements. IBEX disclaims any intention or obligation to update these statements. TO THE SHAREHOLDERS OF IBEX TECHNOLOGIES INC. The interim consolidated balance sheet of IBEX Technologies Inc. as of April 30, 2006 and the interim consolidated statements of loss and deficit and cash flows for the period then ended have not been reviewed by the Company's auditors, PricewaterhouseCoopers LLP. These financial statements are the responsibility of management and have been reviewed and approved by the Audit Committee. |
|
| aus der Diskussion: | ÜBERNAHMEANGEBOT für Ibex Techs. (TSX:IBT) WPKN:883396 |
| Autor (Datum des Eintrages): | ycbm (17.11.06 14:31:48) |
| Beitrag: | 5 von 32 (ID:25484749) |
| Alle Angaben ohne Gewähr © wallstreetONLINE | |