Summary of Q2 2008
Developments for BioPorto have been positive in Q2 2008 and have been in line
with the company's expectations in most areas: licensing negotiations, patent
protection and process development. Revenues continued to grow, yet still at a
lower rate than expected. (Comparative figures for Q2 2007 are shown in
parentheses.)
• Revenues generated in Q2 2008 rose by 29% to T.DKK 2,608 (T.DKK 2,014).
• The loss for the period was T.DKK -3,470 (T.DKK -3,159).
• BioPorto received a favorable reply to its APC-PCI patent application
concerning the diagnostic application of APC-PCI for selecting patients with
sepsis (acute blood poisoning), which opens up a large new market for the use
of this biomarker.
• At the end of Q2, the Rat NGAL kit was launched for use in the pharmaceutical
industry, among other uses.
• BioPorto's NGAL Ratio patent application was acknowledged for the inventive
step and novelty of all claims, which makes the application's further
processing look promising and strengthens the company's overall NGAL IP rights;
• After the end of the quarter, BioPorto's NGAL cutoff patent was approved for
issue in Europe, thereby securing BioPorto's position as an important player in
the routine diagnostics market and additionally consolidating the company's
negotiating position in terms of selling licensing rights.
Forecasts for the 2008 fiscal year upheld
• Sales forecasts for the company's antibodies and diagnostic kits are upheld,
so 2008 revenues are expected to rise to a level of DKK 11-12 million. Sales in
the last half-year are expected to rise, specifically in light of a number of
anticipated bulk sales of antibodies.
• A net loss of DKK 13-15 million before licensing income is still expected for
2008.
• In relation to the company's IP rights for the NGAL assay method, BioPorto
expects to obtain licensing income as one or more down payments. A separate
company announcement will be issued once the company can assess with greater
certainty the amount of any licensing income and the period in which it will be
generated. The company upholds its forecast that licensing income will run into
the double-digit millions of DKK from 2008 and in the years ahead.
BioPorto will hold an investor meeting for all interested parties on September
25, 2008, at 6 p.m.
Further details and registration at www.bioporto.com.
