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PhotoCure ASA - First Quarter Report 2006

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Strong sales development of Metvix® in the first quarter.
  • Signed licencing agreement with GE Healthcare for Hexvix®.


  • Completed rights issue of 4.4 million new shares raising a total of NOK 191 million after transaction costs.


  • Strong Metvix® sales, with Galderma sales of 9,308 Metvix units in the first quarter, compared to 5,391 units in the first quarter 2005 (+73 %). Nordic Metvix sales totalled 4,299 units in the first quarter of 2006, up from 3,198 units in the first quarter of 2005 (+34%).


  • Total revenue amounted to NOK 73.8 million compared to NOK 12.7 million in the first quarter of 2005. Net income amounted to NOK 43.0 million compared to net loss of NOK 13.1 million in the first quarter of 2005. Liquid funds amounted to NOK 296.8 million as of 31 March 2006.


    • President and CEO of PhotoCure, Dr. Kjetil Hestdal, says in a comment to the results: "We are pleased with the strong sales development of Metvix in the first quarter, showing that we are still in the introduction phase for this product."


    The report is available at the following link:


    The presentation is available at the following link:
     
    PhotoCure ASA is a Norwegian pharmaceutical company founded in 1993 and listed on Oslo Stock Exchange. The company develops and sells pharmaceuticals and medical devices based on proprietary photodynamic technologies, targeting key dermatology and oncology markets.
     
    PhotoCure has two products with sales and marketing approvals: Metvix®, which is a product developed for the treatment of skin cancer (basal cell carcinoma) and pre-cancerous skin lesions (actinic keratosis), and Hexvix®, which is developed for the detection of bladder cancer. Both products are based on the same photodynamic technology, combining the drug known as a photosensitiser with a light source that activates the photosensitiser. PhotoCure is currently testing both products for new indications and aims to develop a pipeline of follow-on products and technologies.
     
    For further information, contact:
     
    PhotoCure ASA                                                         
    Attn. Kjetil Hestdal (President and CEO) or Christian Fekete (CFO)
    Hoffsveien 48
    NO-0377 Oslo
    Norway

    www.photocure.com 
     
    Telephone: +47 22 06 22 10
    Fax: +47 22 06 22 18

    Kjetil Hestdal (kh@photocure.no)
    Mobile: +47 913 19 535
     
    Christian Fekete (cf@photocure.no)
    Mobile: +47 916 42 938

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