Skip to main content

Bioniche Life Sciences Inc. , an animal health and bladder cancer drug developer, reports its net loss for the 2010 fiscal year fell to nearly $1.6-million or two cents a share from $10.5-million or 15 cents a year earlier.

Annual revenues rose to $45.9-million from $33.3-million, the eastern Ontario company said Friday.

"Fiscal 2010 represents a banner year for our company, in which we executed a licence, development and supply agreement for our proprietary product, Urocidin, for the treatment of non-muscle-invasive bladder cancer," said Graeme McRae, chairman, president and CEO of Bioniche.

Story continues below advertisement

"The up-front payment of $20-million (U.S.), combined with three milestone payments received to date totalling $14-million, and revenues from animal health product sales, have resulted in total revenues of $45.9 million."

Bioniche said it has the potential to receive up to $110-million in payments associated with the achievement of certain clinical, regulatory and commercial milestones under the licence agreement with Endo Pharmaceuticals Inc.

Report an error
As of December 20, 2017, we have temporarily removed commenting from our articles. We hope to have this resolved by the end of January 2018. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.