Urokinase, Vaccine Venture, and LumiSort Update
TORONTO, Dec. 28, 2012 /CNW/ - Microbix Biosystems Inc.
(TSX: MBX), a life sciences company commercializing novel virology,
biologic and animal reproduction biotechnologies, today reported
financial results for the fourth quarter of fiscal 2012. For
the quarter ended September 30, 2012,
Microbix reported revenue of $1,884,801, a 12% decrease from $2,137,782 for the same quarter in 2011. Full
year revenues were $6,669,789, an
increase of 7% compared to $6,228,292
in 2011, as a result of continued growth in customer demand.
Total expenses for the quarter were $1,149,990 compared to $1,204,444 for the same quarter in 2011.
Total expenses for the year were $5,391,611 compared to $5363,847 in 2011. The operating loss for
the quarter was $549,043 compared to
$457,497 for the same quarter last
year, while the full year operating loss was $2,636,800 compared to $2,566,094 in 2011.
Vaughn C. Embro-Pantalony,
President and Chief Executive Officer remarked, "I am very
encouraged by the strong underlying growth in virology product
sales of 15% in 2012. However, lower contract sales and
higher expenses during the year resulted in a slight increase in
operating losses compared to last year. Our objective in 2013
is to drive the Company towards profitability by continuing to grow
revenues, carefully managing expenses, and concluding the
partnering of LumiSort, our semen sexing technology, and the
Vaccine venture incorporating VIRUSMAXTM our virus yield
enhancement technology."
Embro-Pantalony also provided an update on the pipeline
products, "In the fourth quarter we signed the urokinase license
agreement with Zydus Cadila, and now a joint project team is
finalizing our detailed plan to return the product to market within
36 months. We are in advanced discussions with potential investors
interested in locating our influenza vaccine manufacturing venture
to a new country; and we are also making good progress towards
partnering the next phase of our LumiSort development program with
initial funding commitments secured. I will provide further
updates on both of these opportunities as matters progress."
Please visit www.sedar.com for recent Microbix Biosystems, Inc.
filings on its pipeline products and financial information.
Financial Highlights
| |
|
3
months ended Sept 30 |
|
year
ended Sept 30 |
| |
|
2012 |
|
2011 |
|
2012 |
|
2011 |
| |
|
|
|
|
|
|
|
|
| Revenue |
$ |
1,884,801 |
|
2,137,782 |
|
6,669,789 |
|
6,928,292 |
| |
|
|
|
|
|
|
|
|
| Net loss |
$ |
(549,043) |
|
(457,497) |
|
(2,636,800) |
|
(2,566,094) |
| |
|
|
|
|
|
|
|
|
| Net loss per share |
$ |
(0.01) |
|
(0.01) |
|
(0.04) |
|
(0.05) |
| |
|
|
|
|
|
|
|
|
| Cash Flow |
$ |
(334,964) |
|
108,783 |
|
103,187 |
|
108,784 |
About Microbix Biosystems
Microbix Biosystems Inc. specializes in the development of
advanced biotechnologies, and markets virology and biological
technologies worldwide. The Company owns intellectual property for
a approved biopharmaceutical drug, a vaccine technology and an
animal reproduction technology. Microbix supplies customers in the
U.S., Europe, and Asia. Established in 1988, Microbix is
headquartered in Toronto.
Disclaimer
This press release contains forward-looking statements which are
subject to risks and uncertainties that could cause actual results
to differ materially from those set forth in the forward-looking
statements including the risks associated with development
projects, operations in foreign jurisdictions, risks associated
with engineering and construction generally, risks associated with
production including control over costs, quality, quantity and
timeliness of delivery of products, foreign currency and exchange
rate risk, and risks of raising capital on acceptable terms or at
all. These forward-looking statements represent the
Companies' judgment as of the date of this press release. The
Company disclaims any intent or obligation to update these
forward-looking statements.
SOURCE Microbix Biosystems Inc.