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PhotoCure - Results second quarter 2004

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Oslo, Norway, 20 August 2004


Metvix approved in the US


PhotoCure ASA (Oslo Stock Exchange: PHO) publishes today its results for the second quarter 2004. Highlights from the report include:


  • Metvix® approved in the US for the treatment of actinic keratosis.
  • Metvix launches initiated in Australia, Belgium and Switzerland.
  • The number of Metvix units sold to pharmacies in the Nordic region increased by 66% compared to the corresponding quarter in 2003.
  • Hexvix® - A pharmacokinetic study required for approval in Sweden for this product was successfully completed in June 2004.
  • Sales revenues increased to NOK 9.6 million in the second quarter 2004, compared to NOK 4.2 million in the corresponding quarter in 2003.
  • Net loss totalled NOK 15.1 million, compared to a profit of NOK 7.6 million in the second quarter of 2003. Adjusted for a one-off milestone payment, net loss totalled 8.5 million in the second quarter of 2003. Liquid funds amounted to NOK 144.8 million as of 30 June 2004.
President and CEO of PhotoCure, Vidar Hansson commented: "We are delighted that this quarter has brought our first US FDA approval for Metvix, ensuring the addition of a key market to our already current approvals across Europe."


The full report for the second quarter 2004; is available on www.photocure.com under Investors/Reports.  
The report is also available at the following link:
http://hugin.info/131151/R/957102/137215.pdf
The 2nd quarter presentation is available at the following link:
http://hugin.info/131151/R/957103/137216.pdf
 
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
Norway
 
 
Telephone: +47 22 06 22 10
Mobile: +47 90 73 78 72
Fax: +47 22 06 22 18

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