SkyePharma PLC -- Interim Results


                     Interim Results Announcement
                for the Six Months Ended 30 June 2008


SkyePharma PLC (LSE: SKP) London, England, 28 August 2008


Summary of Unaudited Results for the six months ended 30 June 2008

                                                        H1:     *H1:
                                                       2008     2007
                                                      GBP'm    GBP'm
Continuing operations
Revenue                                                28.4     19.7
Operating loss before exceptionals                      2.2      8.8
Loss before tax after exceptionals                      6.4     14.1
The loss is arrived at after charging R&D expenditure  10.6     13.8
Continuing and discontinued operations
Net loss after tax                                      6.8     19.6
Net debt
Total debt less cash (including convertible bonds at  134.0    105.7
face value)
Liquidity - cash and cash equivalents plus undrawn     22.8     48.4
facilities


*The 2007 comparatives have been restated as set out in note 1(j) to
the Interim Financial Statements


  - Revenues up 44% to GBP28.4 million (H1 2007: GBP19.7 million);
    operating loss before exceptionals reduced by 75% to GBP2.2 million
    (H1 2007: GBP8.8 million)


  - Significant progress with FlutiformTM development in H1:

      - Primary end-points met in Core Clinical Programme, comprising a
        long-term safety study and three Phase III clinical efficacy
        studies

      - Final clinical efficacy study for New Drug Application ("NDA")
        fully recruited, NDA filing in US expected in Q1 2009

      - Positive results from three European studies, higher dose study
        now recruiting, planned filing of Marketing Authorisation
        Application ("MAA") for all strengths expected in Q3 2009

      - FlutiformTM on target to be launched in US and Europe in 2010

      - Exclusive development, distribution and license agreement
        signed with Kyorin in Japan


  - Growth from approvals and launches of other products:

      - New Sular� formulation in USA

      - Requip� Once-a-day in both Europe and USA and

      - Pulmicort� HFA-MDI now launched in most of its target markets


  - Good progress with proposals for renegotiating the bonds, expected
    to be announced shortly.

Jeremy Scudamore, Non-Executive Chairman, said:"In the last six months
SkyePharma has made significant progress on
several fronts. Positive FlutiformTM data has now been received from
seven Phase III clinical studies and we remain on track to launch in
both the US and Europe in 2010. We are also pleased that we are making
good progress with proposals for renegotiating the convertible
bonds which we expect to announce shortly. Once this is completed, we
remain optimistic about the prospects for further growth of the
business ahead of the launch of FlutiformTM, and beyond."


For further information please contact:

SkyePharma PLC                    Frank Condella    +44 20 7491 1777
During office hours               Ken Cunningham
                                  Peter Grant

Financial Dynamics (UK Enquiries) David Yates       +44 20 7831 3113
Outside office hours              Ben Brewerton

Trout Group (US Enquiries)        Christine Labaree +1 617 583 1308
                                  Seth Lewis



Click on, or paste the following link into your web browser, to
view the full Interim Results PDF document

http://www.rns-pdf.londonstockexchange.com/rns/1719C_1-2008-8-28.pdf


                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

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