surf1944
16 years ago
NUCRYST Announces Management Realignment and R&D Portfolio Change
Wednesday April 30, 4:56 pm ET
WAKEFIELD, MA, April 30 /PRNewswire-FirstCall/ - NUCRYST Pharmaceuticals, a developer and manufacturer of medical products that fight infection and inflammation, today announced that the Company has realigned its management team to further advance its cost reduction and growth strategies. The realignment results in increased management responsibilities for David C. McDowell, Vice President Operations and the appointment of Edward Gaj, Jr., RPh to the newly created position of Vice President Marketing.
The Company also announced that it has discontinued the development of, and out-licensing initiatives for, the current formulation of NPI 32101 silver to treat inflammatory bowel disease (IBD). Preclinical work will continue on the use of NPI 32101 silver for the treatment of Clostridium difficile, as will the Company's other projects to develop line-extensions, product improvements and new products for the treatment of infection and inflammation in hospitals, specialty clinics and long-term care facilities.
"I am confident that Dave and Ed's industry expertise, commitment to success and leadership skills will contribute greatly to NUCRYST's future growth, and I am pleased to announce this significant expansion of their responsibilities," said Thomas E. Gardner, Chairman and Chief Executive Officer.
Effective May 1, 2008, Mr. McDowell, a 24-year veteran of the pharmaceutical industry will add Research and Development to his current responsibilities for Manufacturing, Quality/Regulatory and Medical Affairs. Research and Development currently reports to Katherine J. Turner, PhD, Vice President Research and Development, who has announced her intention to leave the Company to pursue other opportunities.
Mr. Gardner added, "Following the Company's decision to consolidate management of Research and Development activities in Canada, Katherine Turner advised us of her intention to explore opportunities outside of NUCRYST. I want to thank Dr. Turner for her contributions during her tenure at NUCRYST, and we wish her success in her future endeavors."
About Clostridium difficile
Clostridium difficile (also called C. difficile or C. diff) is a bacterium that is recognized as the major causative agent of colitis (inflammation of the colon) and diarrhea that may occur following antibiotic intake. C. difficile infection represents one of the most widespread hospital infections around the world. C. difficile may complicate the course of ulcerative colitis or Crohn's disease and it is responsible for a significant occurrence of diarrhea in AIDS patients. According to the Centers for Disease Control and Prevention, each year in the United States C. difficile is responsible for tens of thousands of cases of diarrhea and at least 5,000 deaths.
surf1944
16 years ago
NUCRYST Pharmaceuticals announces year-end results
Thursday February 14, 4:35 pm ET
WAKEFIELD, Massachusetts, Feb. 14 /PRNewswire-FirstCall/ - NUCRYST Pharmaceuticals Corp. (NASDAQ: NCST - News; TSX: NCS - News) today announced results for the year ended December 31, 2007. Net loss narrowed to $4.0 million, or 22 cents per share, on revenues of $30.1 million. This compares to a net loss of $10.5 million, or 58 cents per share, on revenues of $24.4 million in the previous year. The lower net loss for 2007 is primarily attributable to the combined impact of the $5 million milestone earned from Smith & Nephew in the third quarter together with an additional $5 million milestone earned in the fourth quarter. The impact of these milestones was partially offset by the $4.5 million manufacturing cost rebate paid to Smith & Nephew in 2007 under our supply agreement. No milestone payments were earned in 2006.
For the three months ended December 31, 2007, the company posted net income of $3.2 million, or 17 cents per share, on revenues of $11.2 million. This compares to a net loss of $1.6 million in the fourth quarter of 2006, or 9 cents per share on revenues of $4.5 million.
At December 31, 2007, NUCRYST had $17.8 million in cash and cash equivalents.
"While the fourth quarter of 2007 saw us continue to explore opportunities to rebuild our new products pipeline, following the fourth quarter 2006 cancellation of our clinical program in atopic dermatitis, the principal focus of our Board and Management in late-2007 was on extracting value from our advanced wound care assets," said Thomas E. Gardner, President, CEO and Chairman of NUCRYST. "I am pleased with the improved results generated in the fourth quarter of 2007, and believe they reflect in large part our reinvigorated relationship with Smith & Nephew plc following a September 30, 2007 revision of our basic agreements."
NUCRYST continues to seek partners for its two development projects, use of NPI 32101 as an antimicrobial barrier cream and use of NPI 32101 in inflammatory bowel disease. The company has already received a 510(k)regulatory approval from the FDA for the antimicrobial barrier cream.
NUCRYST Pharmaceuticals (NASDAQ: NCST - News; TSX: NCS - News) develops, manufactures and commercializes medical products that fight infection and inflammation using its patented atomically disordered nanocrystalline silver technology. Smith & Nephew plc sell a range of advanced wound care products under their Acticoat(TM) trade mark. Acticoat(TM) products incorporate NUCRYST's SILCRYST(TM) coatings and are sold in over 30 countries. NUCRYST is also developing pharmaceutical products to address medical conditions that are characterized by both infection and inflammation. The Company has developed its proprietary nanocrystalline silver in a powder form, referred to as NPI 32101 for use in medical devices and as an active pharmaceutical ingredient.
http://biz.yahoo.com/prnews/080214/to207.html?.v=63
surf1944
16 years ago
NUCRYST Pharmaceuticals announces 2007 third quarter results
Wednesday November 7, 10:20 am ET
WAKEFIELD, MA, Nov. 7 /PRNewswire-FirstCall/ - NUCRYST Pharmaceuticals Corp. today announced for the quarter ended September 30, 2007, it recorded a net loss of $2.3 million, or 13 cents per share on revenues of $7.5 million, compared to a net loss of $2.1 million, or 12 cents per share on revenues of $7.3 million recorded in the same period last year. Revenue in the third quarter 2007 includes a $5 million milestone that was partially offset by the recognition in the quarter of $3.4 million of a $4.5 million manufacturing cost rebate paid to Smith & Nephew.
At September 30, 2007, NUCRYST had $20.4 million in cash and short term investments. Further financial information follows at the end of the release.
"With our new agreements in place with Smith & Nephew plc, NUCRYST intends to focus on supporting the continued growth of the Acticoat(TM) brand and the pursuit of other opportunities for our nanocrystalline silver based products," said Thomas E. Gardner, Chairman, President & CEO, NUCRYST Pharmaceuticals .
NUCRYST Pharmaceuticals (NASDAQ: NCST - News; TSX: NCS - News) develops, manufactures and commercializes medical products that fight infection and inflammation using its patented atomically disordered nanocrystalline silver technology. Smith & Nephew plc sell a range of advanced wound care products under their Acticoat(TM) trade mark: Acticoat(TM) products incorporate NUCRYST's SILCRYST(TM) coatings and are sold in over 30 countries. NUCRYST is also developing pharmaceutical products to address medical conditions that are characterized by both infection and inflammation. The company has developed its proprietary nanocrystalline silver in a powder form for use as an active pharmaceutical ingredient, referred to as NPI 32101.
A more detailed discussion of NUCRYST's 2007 third quarter results can be found in our 10-Q filing which will be available at www.sec.gov and www.sedar.com. NUCRYST filings are also available at www.nucryst.com/Regulatory_Filings.htm.
All figures are in US dollars unless otherwise stated
SILCRYST(TM) is a trademark of NUCRYST Pharmaceuticals Corp.
Acticoat(TM) is a trademark of Smith & Nephew plc
The financial results in this news release are unaudited and are not a complete disclosure of our quarterly or annual financial results. This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada (collectively "forward-looking statements"). The words "intends", "focus", "pursuit" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this news release include, but are not limited to, statements about: prospects and plans for supporting the continued growth of the Acticoat(TM) brand and prospects and plans for the development of future products containing our nanocrystalline silver. With respect to the forward-looking statements contained in this news release, readers are cautioned that numerous risks, uncertainties and other factors could cause our actual results to differ materially from those indicated in these statements including, but not limited to: difficulties or delays in the initiation, timing, progress and results of our preclinical trials and research and development programs relating to the development of products containing our nanocrystalline silver; our ability to maintain our collaboration with Smith & Nephew; our reliance on sales of Acticoat(TM) products with our SILCRYST(TM) coatings by Smith & Nephew; future sales of Acticoat(TM) may not be sufficient to adequately fund our research and development plans; we may not be able to retain existing and obtain new regulatory clearance for our NPI 32101 barrier cream and any future products; our ability to achieve cost savings sufficient to substantially or completely offset the manufacturing cost rebate we have agreed to pay Smith & Nephew; the impact of the introduction of new silver based products by Smith & Nephew on its future sales of Acticoat(TM) products; we may not be able to establish successful commercialization programs, through new corporate collaborations or otherwise, for our NPI 32101 barrier cream or for other future products; competition from other silver-based pharmaceutical or medical device companies; our ability to raise additional financing required to fund further research and development, clinical studies and obtain regulatory approvals, on commercially acceptable terms or at all; changes in currency exchange rates; our ability to protect our intellectual property rights and to not infringe on the intellectual property rights of others; our ability to comply with governmental regulations and standards; our ability to successfully attract and retain skilled and experienced personnel; changes in general economic and capital market conditions; other risks and uncertainties unidentified at this time; management's response to these factors; and other factors described under "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2006, filed with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov and with securities authorities in Canada on SEDAR at www.sedar.com. All forward-looking statements are expressly qualified in their entirety by this cautionary statement and NUCRYST disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future developments or otherwise after the date hereof.
NUCRYST PHARMACEUTICALS CORP.
Financial Highlights
(unaudited)
(thousands of U.S. dollars except share and per share data)
----------------------- ------------------------ ------------------------
Three Months Ended Nine Months Ended
Condensed Consolidated September 30 September 30
Statements of ------------------------ ------------------------
Operations 2007 2006 2007 2006
----------------------- ------------------------ ------------------------
Revenue $ 7,525 $ 7,309 $ 18,857 $ 19,830
Loss from operations (1,296) (2,380) (4,783) (8,028)
Net loss (2,349) (2,128) (7,209) (8,899)
Net loss per common
share
- basic and diluted (0.13) (0.12) (0.39) (0.50)
Weighted average
number of common
shares outstanding
- basic 18,340,647 18,283,567 18,323,788 17,850,787
- diluted 18,340,647 18,283,567 18,323,788 17,850,787
---------------------------- -----------------------------------------
Condensed Consolidated September 30 December 31
Balance Sheets 2007 2006
---------------------------- -----------------------------------------
Cash and cash equivalents $ 20,429 $ 18,926
Current assets 38,627 33,591
Total assets 51,867 45,892
Current liabilities 8,451 2,306
Non-current liabilities 747 -
Shareholders' equity 42,669 43,586
----------------------- ------------------------ ------------------------
Three Months Ended Nine Months Ended
Condensed Consolidated September 30 September 30
Statements of ------------------------ ------------------------
Operations 2007 2006 2007 2006
----------------------- ------------------------ ------------------------
Wound care product
revenue $ 5,900 $ 7,309 $ 17,232 $ 19,830
Manufacturing cost
rebate (3,375) - (3,375) -
Milestone revenue 5,000 - 5,000 -
------------------------ ------------------------
Total revenue $ 7,525 $ 7,309 $ 18,857 $ 19,830
Manufacturing costs $ 3,841 $ 4,985 $ 10,975 $ 13,303
Gross margin
excluding milestone
revenue $ (1,316) $ 2,324 $ 2,882 $ 6,527
Gross margin percent
excluding milestone
revenue -52.1% 31.8% 20.8% 32.9%
http://biz.yahoo.com/prnews/071107/to243.html?.v=51
surf1944
17 years ago
NUCRYST Pharmaceuticals announces 2007 second quarter results
WAKEFIELD, MA, Aug. 8 /PRNewswire-FirstCall/ - NUCRYST Pharmaceuticals Corp. today announced for the quarter ended June 30, 2007, it recorded a net loss of $3.0 million, or 16 cents per share on revenues of $6.1 million, compared to a net loss of $3.9 million, or 21 cents per share on revenues of $6.2 million recorded in the same period last year.
At June 30, 2007, NUCRYST had $20.2 million in cash and short term investments. Further financial information follows at the end of the release.
'NUCRYST continued to advance our product development strategy in the first half of 2007,' said Scott H. Gillis, President & CEO, NUCRYST Pharmaceuticals. 'We continued with our preclinical work for gastroenterology indications and in July, we reported FDA 510(k) clearance of our NPI 32101 cream. We are currently examining potential commercialization strategies for the cream to determine the optimal path to market.'
NUCRYST Pharmaceuticals (NASDAQ: NCST; TSX: NCS) develops, manufactures and commercializes medical products that fight infection and inflammation using its patented atomically disordered nanocrystalline silver technology. Smith & Nephew plc sell a range of advanced wound care products under their Acticoat(TM) trade mark: Acticoat(TM) products incorporate NUCRYST's SILCRYST(TM) coatings and are sold in over 30 countries. NUCRYST is also developing pharmaceutical products to address medical conditions that are characterized by both infection and inflammation. The company has developed its proprietary nanocrystalline silver in a powder form for use as an active pharmaceutical ingredient, referred to as NPI 32101.
A more detailed discussion of NUCRYST's 2007 second quarter results can be found in our 10-Q filing which will be available at www.sec.gov/edgar.com and www.sedar.com. NUCRYST filings are also available at www.nucryst.com/Regulatory_Filings.htm.
All figures are in US dollars unless otherwise stated.
SILCRYST(TM) is a trademark of NUCRYST Pharmaceuticals Corp.
Acticoat(TM) is a trademark of Smith & Nephew plc.
The financial results in this news release are unaudited and are not a complete disclosure of our quarterly or annual financial results. This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada (collectively 'forward-looking statements'). The words 'intends', 'will', 'examining', 'potential', 'determine' and 'plan' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this news release include, but are not limited to, statements about: prospects and plans for the development of future products containing our nanocrystalline silver for the treatment of gastroenterology indications, plans for our gastrointestinal program, regulatory approval of our NPI 32101 barrier cream, and plans and prospects for our barrier cream. With respect to the forward-looking statements contained in this news release, readers are cautioned that numerous risks, uncertainties and other factors could cause our actual results to differ materially from those indicated in these statements including, but not limited to: difficulties or delays in the initiation, timing, progress and results of our preclinical trials and research and development programs relating to the development of products containing our nanocrystalline silver for treatment of gastroenterology indications; our ability to maintain our collaboration with Smith & Nephew; our reliance on sales of Acticoat(TM) products with our SILCRYST(TM) coatings by Smith & Nephew; future sales of Acticoat(TM) may not be sufficient to adequately fund our research and development plans; we may not be able to retain existing and obtain new regulatory approvals for our NPI 32101 barrier cream and any future products; we may not be able to establish successful commercialization programs, through new corporate collaborations or otherwise, for our NPI 32101 barrier cream or for other future products; competition from other silver-based pharmaceutical or medical device companies; our ability to raise additional financing required to fund further research and development, clinical studies and obtain regulatory approvals, on commercially acceptable terms or at all; changes in currency exchange rates; our ability to protect our intellectual property rights and to not infringe on the intellectual property rights of others; our ability to comply with governmental regulations and standards; our ability to successfully attract and retain skilled and experienced personnel; changes in general economic and capital market conditions; other risks and uncertainties unidentified at this time; management's response to these factors; and other factors described under 'Risk Factors' in our Annual Report on Form 10-K for the year ended December 31, 2006, filed with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov and with securities authorities in Canada on SEDAR at www.sedar.com. All forward-looking statements are expressly qualified in their entirety by this cautionary statement and NUCRYST disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future developments or otherwise after the date hereof.
NUCRYST PHARMACEUTICALS CORP.
Financial Highlights
(unaudited)
(thousands of U.S. dollars except share and per share data)
--------------------- ------------------------- -------------------------
Condensed Three Months Six Months
Consolidated Ended June 30, Ended June 30,
Statements ------------------------- -------------------------
of Operations 2007 2006 2007 2006
--------------------- ------------------------- -------------------------
Revenue $ 6,098 $ 6,237 $ 11,332 $ 12,521
Loss from operations (1,642) (2,729) (3,487) (5,648)
Net loss (2,996) (3,887) (4,860) (6,771)
Net loss per
common share
- basic and diluted (0.16) (0.21) (0.27) (0.38)
Weighted average
number of common
shares outstanding
- basic 18,318,438 18,247,003 18,315,218 17,630,811
- diluted 18,318,438 18,247,003 18,315,218 17,630,811
----------------------------------------------- -------------------------
June 30, December 31,
Condensed Consolidated Balance Sheets 2007 2006
----------------------------------------------- -------------------------
Cash and short-term investments $ 20,201 $ 18,926
Current assets 32,715 33,591
Total assets 46,364 45,892
Current liabilities 3,164 2,306
Long Term liabilities 725 -
Shareholders' equity 42,475 43,586
--------------------- ------------------------- -------------------------
Three Months Six Months
Ended June 30, Ended June 30,
------------------------- -------------------------
Other Data 2007 2006 2007 2006
--------------------- ------------------------- -------------------------
Wound care product
revenue $ 6,098 $ 6,237 $ 11,332 $ 12,521
Manufacturing costs $ 3,986 $ 4,013 $ 7,134 $ 8,318
Gross margin $ 2,112 $ 2,224 $ 4,198 $ 4,203
Gross margin percent
excluding milestone
revenue 34.6% 35.7% 37.0% 33.6%
SOURCE NUCRYST Pharmaceuticals Corp.
Source: PR Newswire (August 8, 2007 - 10:25 AM EST)
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