We disclaim any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except if we are required by a governmental authority or applicable law.
Attachment: Financial summary
Interim Consolidated Statements of Loss (Unaudited)
(in thousands, except share and per share data)
Three months ended Nine months ended
September 30, September 30,
2009 2008 2009 2008
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$ $ $ $
Revenues
Sales and royalties 5,539 8,630 15,937 24,822
License fees and
other 3,026 2,399 7,118 6,412
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8,565 11,029 23,055 31,234
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Operating expenses
Cost of sales 4,488 4,986 12,727 14,348
Research and
development costs,
net of tax credits
and grants 9,738 13,880 33,251 44,914
Selling, general and
administrative
expenses 3,193 3,277 9,849 14,287
Depreciation and
amortization
Property, plant
and equipment 341 433 983 1,199
Intangible assets 594 839 1,714 2,555
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18,354 23,415 58,524 77,303
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Loss from operations (9,789) (12,386) (35,469) (46,069)
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Other income
(expenses)
Interest income 41 149 315 737
Interest expense (2) - (4) (68)
Foreign exchange
(loss) gain (1,538) (1,324) (1,598) 429
Loss on disposal of
long-lived assets
held for sale - (90) - (125)
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(1,499) (1,265) (1,287) 973
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Loss before income
taxes (11,288) (13,651) (36,756) (45,096)
Income tax expense - (228) - (228)
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Net loss for the
period (11,288) (13,879) (36,756) (45,324)
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Net loss per share
Basic and diluted (0.19) (0.26) (0.67) (0.85)
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Weighted average
number of shares
Basic and diluted 58,506,619 53,187,470 55,135,876 53,187,470
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Interim Consolidated Balance Sheet Information (Unaudited)
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As at As at
September 30, December 31,
(in thousands) 2009 2008
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$ $
Cash and cash equivalents 43,051 49,226
Short-term investments 562 493
Accounts receivable and other current assets 11,127 12,005
Restricted cash 901 -
Property, plant and equipment 6,738 6,682
Other long-term assets 41,237 39,936
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Total assets 103,616 108,342
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Accounts payable and other current liabilities 23,015 22,121
Current portion of long-term payable 56 49
Long-term payable 140 172
Non-financial long-term liabilities 88,390 64,525
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Total liabilities 111,601 86,867
Shareholders' equity (deficiency) (7,985) 21,475
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Total liabilities and shareholders'
equity (deficiency) 103,616 108,342
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