Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Computing
Conference & Expo
November 2-4, 2009 NYC
Register Today and SAVE !..

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
SYS-CON.TV
Knight Reports Second Quarter 2017 Results

MONTREAL, QUEBEC -- (Marketwired) -- 08/10/17 -- Knight Therapeutics Inc. (TSX: GUD) ("Knight"), a leading Canadian specialty pharmaceutical company, today reported financial results for its second quarter ended June 30, 2017. All dollar amounts are in thousands except for per share amounts. All currencies are Canadian unless otherwise specified.

Q2-2017 Highlights


--  Revenues reached $2,840, an increase of $1,345 or 119% over the same
    period in prior year
--  Cash flows from operations were $3,371, an increase of $289 or 9% over
    the same period in prior year
--  Submitted Probuphine™ for approval by Health Canada
--  Issued additional secured loan tranches of US$1,807 to 60 Degree
    Pharmaceuticals ("60P")
--  Contributed capital of $6,190 and received distributions of $1,222 from
    strategic fund investments

Subsequent Events


--  Realized gain of $1,457 on disposal of common shares of Merus upon the
    close of its acquisition by Norgine B.V.
--  Medison Biotech (1995) Ltd.'s ("Medison") board of directors declared
    and approved dividends of $2,466 (ILS7,068)
--  Issued an additional secured loan of US$10,000 to Synergy CHC Corp.
    ("Synergy")

"This past quarter was highlighted by continued revenue growth, as well as the submission of Probuphine™ for approval by Health Canada, bringing a novel product one step closer to improving the health of Canadians," said Jonathan Ross Goodman, CEO of Knight. "In the quarters ahead, we will continue to be focused on advancing our pipeline and capitalizing on GUD opportunities for growth."

Financial Results

Revenue for Q2 2017 was $2,840, an increase of $1,345 or 119% versus Q2 2016. Revenue for the first half of 2017 was $4,230, an increase of $2,027 or 92% versus the first half of 2016. The increase is due to the addition of Movantik® as well as to an increase of Impavido® sales.

Operating expenses for Q2 2017 were $4,246, an increase of $1,513 or 55% versus Q2 2016. The increase is explained by commercial activities including sales force promotion of Movantik®, an increase in the number of employees as Knight expands commercialization and prepares to launch new products in Canada, and the fees related to the submission of Probuphine™ for regulatory approval by Health Canada.

Interest income for Q2 2017 was $5,698, a decrease of $426 or 7% versus Q2 2016. The decrease is driven by a lower average loan balance outstanding, offset by an increase in the average cash, cash equivalents and marketable securities balances due to proceeds from equity raises in June and December 2016.

Share of income of associate for Q2 2017 was $96, a decrease of $709 or 88% versus Q2 2016. The decrease is due to Medison's lower net income mainly attributable to increases in marketing and selling expenses linked to new product launches as well as to an increase in the amortization of fair value adjustments recorded by Knight.

Net income for Q2 2017 was $459, a decrease of $3,987 or 90% versus Q2 2016. Net income for the first half of 2017 was $6,506, an increase of $1,583 or 32% versus the first half of 2016.

As at June 30, 2017, Knight had $761,161 in cash, cash equivalents and marketable securities and 142,765,432 common shares outstanding. From this strong cash position, Knight will continue to pursue business and corporate development opportunities.

Product Updates

During the quarter, Knight submitted a new drug submission for Probuphine™ for approval by Health Canada. Probuphine™, indicated for the treatment of opioid drug dependence, is a subdermal implant designed to deliver buprenorphine continuously for six months following a single treatment, promoting patient compliance and retention. Knight entered into an exclusive licensing agreement with Braeburn to commercialize Probuphine™ in Canada in February 2016.

According to IMS data, Movantik® sales in Canada were $213 and $381 for the three and six-month periods ended June 30, 2017. In December 2016, Knight entered into an agreement with AstraZeneca for the rights to Movantik® in Canada and Israel under which Knight is responsible for all commercial, regulatory and certain supply chain activities. Movantik® is the first once-daily oral peripherally-acting mu-opioid receptor antagonist for the treatment of opioid-induced constipation in adult patients with non-cancer pain who have had an inadequate response to laxative(s).

Strategic Lending Updates

During the three-month period ended June 30, 2017, Knight issued an additional US$1,356 to 60P. As at June 30, 2017, Knight had issued a total of US$4,197 to 60P as part of a secured loan agreement. The loan bears interest at 15% per annum and matures on December 31, 2020.

Subsequent to quarter end, Knight issued an additional secured loan of US$10,000 to Synergy which bears interest at 10.5% per annum and matures on August 9, 2020. As part of the transaction, Knight will receive a success fee paid at maturity, plus other consideration. In 2015, Knight issued two loans to Synergy totaling US$11,500 which have a current remaining balance of US$3,100 and are scheduled to be fully repaid by January 20, 2018.

Conference Call Notice

Knight will host a conference call and audio webcast to discuss its second quarter results today at 8:30 am ET. Knight cordially invites all interested parties to participate in this call.


Date:       Thursday, August 10, 2017

Time:       8:30 a.m. EST

Telephone:  1-877-223-4471 or 647-788-4922

Webcast:    http://www.gudknight.com/ or http://bit.ly/2u1eeo9

This is a listen-only audio webcast. Media Player is required to listen to
the broadcast.

Replay:     An archived replay will be available for 30 days at
            http://www.gudknight.com/.

About Knight Therapeutics Inc.

Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and select international markets. Knight Therapeutics Inc.'s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's web site at www.gudknight.com or www.sedar.com.

Forward-Looking Statement

This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.'s Annual Report and in Knight Therapeutics Inc.'s Annual Information Form for the year ended December 31, 2016. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law.


                     INTERIM CONSOLIDATED BALANCE SHEETS

                     (In thousands of Canadian dollars)

(Unaudited)

As at                                        June 30, 2017 December 31, 2016
----------------------------------------------------------------------------
ASSETS

Current
Cash and cash equivalents                          527,879           514,942
Marketable securities                              233,282           221,108
Trade and other receivables                          7,598             6,440
Inventories                                            839               790
Other current financial assets                      35,779            51,789
Income taxes receivable                              5,456             4,683
----------------------------------------------------------------------------
Total current assets                               810,833           799,752

Property and equipment                                  68                32
Intangible assets                                   13,482            14,153
Other financial assets                              84,073            90,643
Investment in associate                             78,003            80,113
Deferred income tax assets                           5,521             6,077
----------------------------------------------------------------------------
Total assets                                       991,980           990,770
----------------------------------------------------------------------------
----------------------------------------------------------------------------

LIABILITIES AND SHAREHOLDERS' EQUITY
Current
Accounts payable and accrued liabilities             3,123             3,207
Income taxes payable                                 6,617             5,659
Other balances payable                                 610               537
Deferred other income                                  250               355
----------------------------------------------------------------------------
Total current liabilities                           10,600             9,758
Deferred other income                                  292               417
Other balances payable                                 908               877
----------------------------------------------------------------------------
Total liabilities                                   11,800            11,052
----------------------------------------------------------------------------

Shareholders' equity
Share capital                                      761,063           760,447
Warrants                                               785               785
Contributed surplus                                 11,138             9,469
Accumulated other comprehensive income              22,102            30,431
Retained earnings                                  185,092           178,586
----------------------------------------------------------------------------
Total shareholders' equity                         980,180           979,718
----------------------------------------------------------------------------
Total liabilities and shareholders' equity         991,980           990,770
----------------------------------------------------------------------------
----------------------------------------------------------------------------


                  INTERIM CONSOLIDATED STATEMENTS OF INCOME

 (In thousands of Canadian dollars, except for share and per share amounts)

(Unaudited)

                                             Three months  Six months ended
                                            ended June 30           June 30
                                            2017     2016     2017     2016
----------------------------------------------------------------------------

Revenues                                   2,480    1,135    4,230    2,203
Cost of goods sold                           472      535      760      781
----------------------------------------------------------------------------
Gross margin                               2,008      600    3,470    1,422
----------------------------------------------------------------------------

Expenses
Selling and marketing                      1,050      154    1,413      168
General and administrative                 2,329    2,055    4,797    4,234
Research and development                     867      524    1,283      807
----------------------------------------------------------------------------
                                          (2,238)  (2,133)  (4,023)  (3,787)
----------------------------------------------------------------------------

Depreciation of property and equipment         -       10        -       18
Amortization of intangible assets            320      122      646      163
Interest income                           (5,698)  (6,124) (11,558) (10,940)
Other income                                (334)    (354)    (642)  (1,453)
Net loss (gain) on financial assets        1,056     (783)  (2,319)  (2,512)
Share of net income of associate             (96)    (805)    (415)  (1,659)
Foreign exchange loss                      1,306      357    1,549    4,127
----------------------------------------------------------------------------
Income before income taxes                 1,208    5,444    8,716    8,469
----------------------------------------------------------------------------

Income tax expense
Current                                      628      578    1,108    3,119
Deferred                                     121      420    1,102      427
----------------------------------------------------------------------------
Net income for the period                    459    4,446    6,506    4,923
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Attributable to shareholders of the Company
Basic earnings per share                   0.003    0.039    0.046    0.046
Diluted earnings per share                 0.003    0.039    0.045    0.045


                INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS

                     (In thousands of Canadian dollars)

(Unaudited)

                                             Three months  Six months ended
                                            ended June 30           June 30
                                            2017     2016     2017     2016
----------------------------------------------------------------------------
OPERATING ACTIVITIES
Net income for the period                    459    4,446    6,506    4,923
Adjustments reconciling net income to
 operating cash flows:
  Deferred tax                               121      420    1,102      427
  Share-based compensation expense         1,018      810    1,864    1,883
  Depreciation and amortization              320      132      646      181
  Accretion of interest                   (1,106)  (1,741)  (2,184)  (2,846)
  Realized (gain) loss on financial
   assets                                   (665)     514   (1,641)    (142)
  Unrealized (gain) loss on financial
   assets                                  1,721   (1,297)    (678)  (2,370)
  Foreign exchange loss                    1,344      367    1,549    4,127
  Share of net income from associate         (96)    (805)    (415)  (1,659)
  Other adjustments                           71     (151)    (231)    (293)
----------------------------------------------------------------------------
                                           3,187    2,695    6,518    4,231
----------------------------------------------------------------------------
Changes in non-cash working capital
 related to operations                    (2,341)     387   (1,436)     963
----------------------------------------------------------------------------
Dividends from associate                   2,525        -    2,525    2,423
----------------------------------------------------------------------------
Cash inflow from operating activities      3,371    3,082    7,607    7,617
----------------------------------------------------------------------------

INVESTING ACTIVITIES
Purchase of marketable securities        (98,182)(135,726)(142,473)(283,125)
Purchase of intangibles                        -        -        -   (2,924)
Issuance of loans receivables             (1,807)  (2,598)  (1,807) (37,449)
Purchase of equities                        (120)  (3,999)  (2,939)  (7,460)
Investment in funds                       (6,190)  (3,392) (10,331)  (9,225)
Proceeds from sale of marketable
 securities                              106,073   81,878  126,559  234,104
Proceeds from repayments of loans
 receivable                                2,266    1,005   30,324    2,023
Proceeds from disposal of equities         2,806      616    3,515    6,235
Proceeds from distribution of funds        1,222        -    3,376        -
----------------------------------------------------------------------------
Cash inflow (outflow) from investing
 activities                                6,068  (62,216)   6,224  (97,821)
----------------------------------------------------------------------------

FINANCING ACTIVITIES
Issuance of shares upon bought deal            -  218,552        -  218,552
Proceeds from share option plan                -        -      345        -
Proceeds from share purchase plan             50       22       93       50
Issuance of share purchase loans               -     (200)       -     (200)
----------------------------------------------------------------------------
Cash inflow from financing activities         50  218,374      438  218,402
----------------------------------------------------------------------------
Increase in cash during the period         9,489  159,240   14,269  128,198
Cash and cash equivalents, beginning of
 the period                              519,522  204,785  514,942  237,481
Net foreign exchange difference           (1,132)    (312)  (1,332)  (1,966)
----------------------------------------------------------------------------
Cash and cash equivalents, end of the
 period                                  527,879  363,713  527,879  363,713
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Marketable securities, end of the period 233,282  274,710  233,282  274,710
Cash, cash equivalents and marketable
 securities, end of the period           761,161  638,423  761,161  638,423
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Contacts:
Knight Therapeutics Inc.
Jeffrey Kadanoff, P.Eng., MBA
Chief Financial Officer
514-484-GUD1 (4831)
514-481-4116 (FAX)
info@gudknight.com
www.gudknight.com

About Marketwired .
Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

SOA World Latest Stories
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv i...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketin...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try...
"We're developing a software that is based on the cloud environment and we are providing those services to corporations and the general public," explained Seungmin Kim, CEO/CTO of SM Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa ...
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing c...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021


SYS-CON Featured Whitepapers
ADS BY GOOGLE