Deprenyl Animal Health Inc. reports 1995 operating results; Anipryl shipments to Canada to commence in March.OVERLAND PARK, Kan.--(BUSINESS WIRE)--Feb. 22, 1996--Deprenyl Animal Health Inc. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :DAHI DAHI Deck Aft High ;TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :DAH) Thursday reported its results of operations for the three and 12 months ended Dec. 31, 1995. With the pending launch of Anipryl in Canada, DAHI expects to report its first-ever operating revenues during the first quarter of 1996. Those revenues will help to offset the expected losses from continuing product development efforts. During the 1995 fourth quarter, DAHI announced its intention to sell the Canadian rights to its veterinary pharmaceutical Anipryl to Draxis Health Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DRAXF;TSE:DAX). That agreement was completed and executed in January 1996. DAHI expects to complete its first shipment of Anipryl to Draxis during March 1996. Following the completion of the agreement, DAHI had approximately $2.5 million in cash and cash equivalents. DAHI's revenue for the fourth quarter of 1995 was $190,805, compared with $46,118 for the same period of 1994. The company reported a loss of $595,226, or nine cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for the fourth quarter of 1995, compared with a loss of $691,718, or 11 cents per share, for the same period of 1994. For the 12 months ended Dec. 31, 1995, DAHI had revenues of $280,779, compared with $211,561 for 1994. Net losses were $2,631,147, or 41 cents per share in 1995, compared with $2,561,292, or 40 cents per share, in 1994. DAHI's principal source of revenue during 1995 was the gain from the sale of investment securities, as well as interest earned on cash and cash equivalents. Anipryl is approved for distribution in Canada for canine Cushing's disease. During September 1995 the company filed its Phase III-equivalent clinical trial report with the U.S. Food and Drug Administration covering the use of Anipryl therapy in treating canine Cushing's disease. Approximately 165,000 cases of canine Cushing's disease are diagnosed each year in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . During 1996, DAHI expects to continue its clinical trial for Anipryl as a treatment for the indication cognitive dysfunction, which occurs in approximately 1.65 million older dogs in North America each year. DAHI is currently evaluating its options for distribution of Anipryl in the U.S., including negotiating with several companies to establish a marketing alliance. Marketing rights in selected European markets have been acquired by Hoechst Veterinar, which is conducting clinical trials. Deprenyl Animal Health was established in 1990 to develop animal health applications for Anipryl. The company is also identifying other animal health product opportunities to become a multi-product animal health pharmaceutical company. CONTACT: RKC RKC Romaji-To-Kana Conversion (Japanese character sets) RKC Road Kill Cafe RKC Rad Kustom Cycles (Manila, Philippines) Communications, Fort Lauderdale Robert Kneeley, 954/351-1976 |
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