Helix BioMedix reports increased net loss, decreased revenue for the third quarter

By Lisa Kerner

Charlotte, N.C., Nov. 10 - Helix BioMedix, Inc. reported a net loss for the three-month period ended Sept. 30 of $870,507, or $0.04 per share, a slight increase from the net loss of $797,951, or $0.04 per share, reported for the third quarter of 2006.

Revenue for the third quarter of 2006, derived from licensing revenue and the sale of peptides, was $18,841, compared with $40,000, derived from the sale of peptides at cost, for the prior-year period.

At Sept. 30, Helix had cash and cash equivalents of approximately $3.1 million, including proceeds of $2.6 million from a private placement completed in the first quarter and more than 22.7 million outstanding shares.

Helix reported a net loss of $2.9 million, or $0.13 per share, and revenue of $95,414 for the first nine months of 2006.

"During the third quarter, we made considerable advances in our pharmaceutical technology platform, and we plan to place our initial emphasis on the large anti-infective dermatology market, including indications such as acne and dermatitis," chief scientific officer Tim Falls said in a company news release.

"This program will feature a new generation of small molecule peptides (lipohexapeptides), which we have designed specifically to overcome the disadvantages that have hampered previous attempts to develop therapies based on antimicrobial peptides."

Helix is a biopharmaceutical company located in Bothell, Wash.

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