Resultater for 4.kvartal og hele året 2010
Highlights for the fourth quarter and full year 2010
(2009 figures in brackets)
· Hexvix® sales to end users in units up by 32% for the full year 2010
· Fourth quarter: Sales revenues of NOK 20.9 million (NOK 15.0 million) and total revenues of NOK 44.3 million (NOK 15.0 million)
· Full year: Sales revenues of NOK 70.5 million (NOK 51.5 million) and total revenues of NOK 177.4 million (NOK 51.5 million)
· Fourth quarter operating loss of NOK 19.7 million (NOK 26.9 million) and full year operating profit of NOK 7.5 million (NOK -75.9 million)
· Cash & cash equivalents of NOK 389.2 million at 31 December 2010
· Global license agreement for Lumacan® with Salix Pharmaceuticals, including a signing fee of USD 4 million
· Positive final results from six months follow up study from Cevira® in January 2011
· Positive final results from consumer trial for Allumera(TM) in February 2011
Key figures
| NOK million | Q410 | Q409 | Full year 2010 | Full year 2009 |
| Sales revenues | 20.9 | 15.0 | 70.5 | 51.5 |
| Signing fee/ milestone rev | 23.4 | 0 | 106.8 | 0 |
| Total revenues | 44.3 | 15.0 | 177.4 | 51.5 |
| Gross profit | 40.8 | 14.2 | 168.2 | 45.9 |
| R&D expenses | (37.9) | (25.9) | (90.2) | (73.8) |
| Operating profit | (19.7) | (26.9) | 7.5 | (75.9) |
| Net profit | (16.7) | (22.2) | 18.1 | (312. 4) |
| EPS, diluted (NOK) | (0.77) | (1.01) | 0.83 | 14.14 |
Please find the full financial report enclosed.
Photocure ASA will present its fourth quarter 2010 report today at Shippingklubben, Haakon VIIs gate 1 (top floor), Oslo, Norway. The presentation will begin at 12.00 (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.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.