Results Second Quarter 2007

Oslo, Norway, 16 August 2007

Photocure ASA (Oslo Stock Exchange: PHO) presents today its results for the second quarter of 2007. The main items of the report are:

  •         Revenues amounted to NOK 29.1 million (19.5), an increase of 49 %.
  •         Submitted application (sNDA) for approval of Aktilite in the US.
  •         Price/reimbursement for Hexvix approved in France and Italy.
  •         R&D expenses of NOK 31.9 million (10.7). The increased expenses are related to the Hexvix phase III study and the acne phase IIb study/development of a new acne lamp.
  •         Net loss amounted to NOK -17.3 million (-1.0).
  •         Liquid assets amounted to NOK 301.9 million at the end of the period.

  • President and CEO of Photocure, Dr. Kjetil Hestdal, says in a comment to the results: "This quarter's result is reflecting the strong focus on our R&D pipeline as announced under the public share issue in 2006. We have progressed well in all our pipeline projects in addition to the submission of the Aktilite application to FDA and finalization of the Hexvix phase III study".

    For further information, please contact:
    President and CEO Kjetil Hestdal
    Mobile: +47 913 19 535
    CFO Christian Fekete
    Mobile: +47 916 42 938

    Photocure ASA is a Norwegian pharmaceutical company listed on the Oslo Stock Exchange. The company develops and sells pharmaceuticals and medical devices for the photodynamic treatment and diagnosis of different types of cancer.
    Photocure has three products on the market: Metvix® cream combined with the Aktilite® lamp for the treatment of sun-damaged skin and certain types of skin cancer, and Hexvix® for the diagnosis of bladder cancer. In addition, the company has several follow-on products and technologies in the pipeline.