SIE 0.00% 6.8¢ scigen limited

150% earnings growth q on q

  1. 3,439 Posts.
    At this rate they should be cashflow positive in the next quarter. And only a few of the markets are operating as yet, so not too shabby.

    31 July 2003
    SciGen Limited
    APPENDIX 4C- QUARTERLY CASHFLOW REPORT
    The company has released its Quarterly Cashflow report for the June 2003 quarter.
    Cash receipts from customers have increased to A$997,000 in the current quarter compared with
    A$398,000 for the previous quarter.
    Total Operating cashflows for the June quarter were a negative A$1.121M which is an improved
    position when compared with a negative A$2.444M in the previous quarter.
    An adverse impact on the cashflow statement for the June quarter is an exchange rate adjustment of
    A$1.460M which is a consequence of the strengthening Australian dollar.
    It should be noted that many of the material transactions of the company are conducted in $US and
    in addition the majority of the company’s cash reserves are held in $US. The stronger $A and the
    requirement to translate these amounts into $A for reporting purposes has resulted in this exchange
    rate adjustment. It should be emphasised that this exchange rate variance is unrealised. The
    company will continue to monitor these issues and take any appropriate action required to protect
    against such fluctuations on the basis of professional advice.
    About SciGen
    SciGen Ltd is a progressive biotechnology/biopharmaceutical company involved in co-developing
    and marketing genetically engineered biopharmaceutical products for human healthcare. SciGen
    focuses in the areas of gastroenterology, endocrinology and immunology. Its product portfolio
    includes vaccines and therapeutics.
    SciGen has acquired the rights to manufacture, distribute and market biopharmaceutical products
    under exclusive licensing arrangements. SciGen’s portfolio currently includes proprietary
    biotechnology-derived products, and biogeneric products, which allows for faster entry into the
    market, as the biogeneric products have undergone much of the clinical development and trials
    required to bring new drugs to market. This minimises the risks associated with early stage product
    development. SciGen currently undertakes R&D activities in collaboration with strategic partners
    and institutions.
    SciGen’s major strength lies in its ability to recognise the potential of new products in their early
    stages of development. Through joint collaboration with its strategic partners, SciGen uses its
    extensive expertise in regulatory and clinical environments, in conjunction with marketing and
    _________________
    ___________________________________________________________________________________________________________________
    SciGen Limited ARBN 101 318 852 Level 7, 2 Bligh Street, Sydney NSW 2000 Australia
    Telephone : + 61 2 9234 1700 Facsimile : + 61 2 9234 1777 Website: www.scigen.com.au
    promotional infrastructure, to bring to market products which will have significant long-term
    benefit.
    SciGen’s business was established in 1988. SciGen is a Singaporean biotechnology company,
    publicly listed on the Australian Stock Exchange (ASX code SIE). SciGen’s headquarters is in
    Singapore and it also has offices in Australia, USA, Korea, Vietnam, Hong Kong and Philippines.
    =====ENDS=====
    Media enquiries
    Mark Compton
    Managing Director & CEO
    Telephone: +61 2 9234 1700
    Web: www.scigen.com.au
 
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