Helix BioMedix Inc. (HXBM.OB) Posts Record Revenue for Q2 2010

QualityStocks would like to highlight Helix BioMedix Inc. (OTCBB:HXBM), a biopharmaceutical company with an extensive library of diverse bioactive peptides and patents covering six distinct classes and hundreds of thousands of peptide sequences. Core competencies include peptide design, synthesis and characterization together with assay development, screening, tissue culture and microbiology, leveraged through relationships with contract research organizations and peptide manufacturers.

In the company’s news Friday,

Helix BioMedix posted its financial results for the second quarter ended June 30, 2010.

Helix reported record revenue of approximately $330,000 in the second quarter of 2010, up 139 percent compared to approximately $138,000 in the same period a year ago. The company attributes the increase to growth in license fees and peptide and consumer product sales.

“I am pleased to report the achievement of our record quarterly revenue as a result of strong growth across our licensing and peptide sales and continued strength in sales of Helix BioMedix-branded products,” R. Stephen Beatty, president and CEO of Helix stated in the press release.

Net loss for the second quarter of 2010 was approximately $942,000, or $0.04 per share, as compared to a net loss of approximately $1.0 million, or $0.04 per share, in the second quarter last year.

Helix reported a net operating loss of approximately $725,000, compared to a net operating loss of approximately $874,000 in the second quarter of 2009.

Beatty said the growth in revenue was spurred by increased product marketing and consumer response, as well as international networking efforts.

“We benefitted from ongoing efforts to advance sales of Helix BioMedix-branded Striking(R) products in the U.S. as well as in certain Asian markets through our recently announced Cerakine(TM) distribution agreement with RubyDerm Bio Inc. This reflects continued progress in our international strategy with South Korea, China and Japan being key markets for future growth,” Beatty stated. “We also continued to make progress on our Rx candidate molecules during the quarter, positioning these technologies for further clinical studies. As a result of our progress, Helix BioMedix is well positioned for continued success across all of our primary businesses, including licensing, branded sales and Rx products.”

As of June 30, 2010, the Company’s cash and cash equivalents balance was approximately $3.0 million as compared to approximately $3.6 million at March 31, 2010.

“In conclusion, we are very pleased with our progress through the first half of the year and expect to achieve record annual revenue in 2010,” Beatty stated. “Although we anticipate that third quarter revenue will be lower than the second quarter due to the bi-annual royalty payment schedule of a key customer, we expect our fourth quarter will once again reflect the continued growth of our business. We look forward to reporting our future achievements as we reach additional financial and product milestones in the coming quarters and year.”

The company also noted that it expanded sales of Helix BioMedix-branded products in North America and Asia, and acquired a 30-percent membership interest in and signed a three-year supply agreement with NuGlow Cosmaceuticals LLC on July 1, 2010.

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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.