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PhotoCure - Results first quarter 2004

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Continued sales increase


Oslo, Norway, 7 May 2004... PhotoCure ASA (Oslo Stock Exchange: PHO) publishes today its results for the first quarter 2004. Highlights from the report include:
  • Operating revenues increased to NOK 15.4 million, compared to NOK 11.5 million in the first quarter of 2003. The number of Metvix units sold to pharmacies in the Nordic region increased by 53% compared to the corresponding quarter in 2003.
  • Galderma will initiate launch of Metvix in 5 new countries during 2004. Launch of Metvix is already initiated in Germany, UK, New Zealand and the Nordic countries and Metvix is approved for marketing in a total of 19 countries.
  • Total operating expenses amounted to NOK 32.1 million, compared to NOK 34.3 million in the corresponding quarter of 2003.
  • Net loss totalled NOK 16.2 million, compared to NOK 18.5 million in the first quarter of 2003.
  • Liquid funds amounted to NOK 163.5 million as of 31 March 2004.
President and CEO of PhotoCure, Vidar Hansson commented: "We are pleased with the continued  increase of Metvix sales and look forward to market introductions of Metvix into new countries by Galderma".


The full 1st quarter report including financial accounts is available at the following link:


The 1st quarter presentation is available at the following link:


PhotoCure ASA is a Norwegian listed company (Oslo Stock Exchange: PHO) that develops and sells pharmaceuticals and medical devices for treatment and diagnosis of cancer and precancerous conditions. The company develops products for different internal cancers, skin cancer and other skin diseases. Metvix is developed for the treatment of basal cell carcinoma (skin cancer) and actinic keratosis (precancerous skin lesions) and is under development and documentation for several other skin diseases. PhotoCure is responsible for sales and marketing of Metvix in the Nordic countries, while its licensee, the global dermatology specialist, Galderma, is responsible for sales and marketing of Metvix in the rest of the world. PhotoCure's second pharmaceutical product Hexvix is under development for bladder cancer. A Marketing Authorisation Application (MAA) for Hexvix for detection of bladder cancer is filed in Sweden and Phase III studies are ongoing in the US.
 
PCI Biotech AS, a subsidiary of PhotoCure ASA, focuses on the opportunities for photochemical internalisation (PCI) in drug delivery, e.g. in novel cancer therapeutics and gene therapy.
 
PhotoCure, the PhotoCure logo, Aktilite, Metvix and Hexvix are trademarks or registered trademarks of PhotoCure ASA.
 
 
For further information, contact:
 
PhotoCure ASA
Attn. Vidar Hansson, CEO
Hoffsveien 48
NO-0377 Oslo
Telephone: +47 22 06 22 10
Mobile: +47 90 73 78 72
Fax: +47 22 06 22 18

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