Haemacure Reports on Current Activities and Third Quarter 2009 Financial
Results
HAE:TSX
Current Activities
Haemacure and Angiotech Pharmaceuticals, Inc. started work pursuant to the strategic collaboration entered into in
Haemacure is actively preparing for the pivotal phase II/III clinical trials for its fibrin sealant and is seeking additional financing.
"We are very pleased with the strategic collaboration Haemacure entered into with Angiotech, which provides liquidity and an important validation of our company and its product candidates." said
Financial Position
Cash, cash equivalents and investments amounted to
Results
Revenues amounted to
About Haemacure
Haemacure Corporation is a specialty biotherapeutics company developing high-value human plasma-derived protein products for commercialization. Haemacure's research and development effort is driven by its proprietary plasma protein extraction technology to develop next-generation products, including surgical haemostats. Haemacure's lead product candidate, Hemaseel(R)HMN, is a fibrin sealant in pivotal clinical trials stage. Haemacure's second product candidate is thrombin, a component of its fibrin sealant, now in preclinical stage. Follow-on development is focussed on the use of fibrin sealant in adhesion prevention, aesthetics, combination with biomaterials, drug delivery, regenerative medecine, skin graft fixation for burn injuries, and wound healing. Haemacure has identified eleven additional specialty proteins and enzymes in one if its two plasma fractions and seeks to advance these proteins and enzymes through partnerships with pharmaceutical and biotechnology companies. Haemacure is headquartered in
Forward-looking Statements
Certain of the statements contained in this news release 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 results of clinical trials, impact of general economic conditions, general conditions in the biotech industry, changes in the regulatory environment in the jurisdictions in which Haemacure 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. Haemacure disclaims any intention or obligation to update these statements.
Complete financial statements for the quarter ended
Financial Highlights (unaudited) Quarters ended July 31, 2009 July 31, 2008 ------------- ------------- Sales $ 15,390 $ 25,593 General and administrative expenses $ 579,598 $ 879,413 Research and development expenses $ 320,466 $ 978,680 Total expenses $ 824,634 $ 2,048,479 Net loss $ (798,852) $(2,022,886) Loss per share $(0.00) $(0.01) Weighted average number of shares outstanding 206,316,298 186,418,348 As at As at July 31, October 31, 2009 2008 ------- ---------- Cash and cash equivalents $ 303,626 $ 1,205,500 Investments $32,972 $ 3,398,496 Total assets $10,215,630 $13,033,252 Shareholders' equity $ 4,199,821 $ 8,818,586
For further information: For further information: Haemacure Corporation: Joseph Galli, Chairman and CEO, (514) 990-7074, [email protected]; www.haemacure.com; Gilles Lemieux, Secretary, (514) 282-3350 x 22, [email protected]
Share this article