Biocompatibles International plc (Biocompatibles), a cardiovascular devices company, has declared its 2008 preliminary results. It reported revenue of GBP17.6 million for the full year 2008, compared with the revenue of GBP9.1 million in the previous year. It has reported loss of GBP0.45 million, or GBP1.2 per share, for the full year 2008, compared with the profit of GBP1.9 million, or GBP5.3 per share, in the previous year.
Highlights
Gross profit increase of 105% to GBP14.0 million (2007: GBP6.9 million).
Operating loss decrease of 49% to GBP3.2 million (2007: GBP6.2 million).
Net funds at 31 December 2008 of GBP33.6m (2007: GBP34.3m).
US launch of Medtronic’s Endeavor Drug-Eluting Stent.
Completion of recruitment in the Dermal Filler Bead trial.
FDA approval of PARAGON I trial.
Proposed dividend, based on royalty income.
Drug-Eluting Beads Japan Option Agreement with Eisai.
Acquisition of BrachySciences.
Final PRECISION V data announced at CIRSE.
Clinical Collaboration agreement with Bayer.
First patient treated in the CellBeadsTM stroke trial.
GLP-1 Development and Option Agreement with AstraZeneca.
Post Period Highlights
Clinical Trial under way in UK in Liver Metastases from Colorectal Cancer.
Financial guidance re-confirmed.
Principal 2009 Operating Goals:
Operating
First patient treated in Bayer’s, “SPACE”, trial (Drug-Eluting Bead +/- Nexavar in HCC).
Launch of DC Bead in China.
Presentation of data from the Drug-Eluting Bead Surgical Registry at The American Hepato-Pancreato-Biliary Accociation Annual Meeting (12-15 March, Miami Beach, Florida).
AstraZeneca programme progress.
Completion of recruitment in the CellBeads stroke trial.
Financial
Revenue in the range GBP22 million to GBP24 million.
Closing net funds of GBP27 million after payment of the dividend of GBP2 million.
Payment of 5 pence per share dividend in May.