1. Pharmaxis
2. Home
3. Investors
4. Financial Summary

Financial Summary

Overview

Pharmaxis completed 2009 with a cash position of A$125 million.

Research & development continues as our major expense.In 2009 this was $29 million, compared to $20 million in 2008.Of this total expenditure, our drug discovery group which is working on drug discovery for respiratory and immune disorders made up seven per cent; our preclinical group which has been conducting toxicology studies in PXS4159 and PXS25 and additional efficacy data in PXS25 made up six per cent; our clinical group which designs and manages our global clinical trial programs made up 64 per cent; and our manufacturing operations which produce material for clinical trials and stability studies and are developing production processes made up 21 per cent. The increase in R&D expenses in 2009 is primarily attributable to an increase in the number and size of clinical trials in the dosing stage during 2009.

Commercial expenses of A$6.2 million include the costs of developing our sales and marketing infrastructure and supporting the development and awareness of our products with key respiratory clinicians around the world. Commercial expenses increased in 2009 as we launched Aridol in several European countries and prepared for its launch in the U.S., and as preparation commenced for the commercial launch of Bronchitol in the EU and the US.Administration expenses of A$5.8 million include our finance, administrative, IT, office, public company and professional service costs. Administration expenses increased in 2009 as we supported our expanded clinical program, our growing international presence and as we completed our larger facility at Frenchs Forest. Finance costs represent the ongoing finance charge associated with the capitalised finance lease of our new facility which commenced in May 2009.

Aridol sales for 2009 were A$0.6 million.Australian sales grew by 7.5%, European sales grew by 95.5% as new individual marketing authorisations were received, sales to pharmaceutical companies decreased by 64% and we made our first sales to Korea. Other income is predominantly amounts paid to us by pharmaceutical companies for promotion of their products by our sales representatives.

In 2009 we invested A$11.4 million in property, plant and equipment, the majority of which related to the fit-out and installation of manufacturing equipment in our new facility.We have approximately A$2.8 million remaining to spend on our new facility.

Please select from the list below to view detailed information from the Pharmaxis 2009 Statutory Annual Report:

• Five Year Summary Financial Information
• Operating and Financial Review and Prospects
• Risk Factors

Pharmaxis Financial History

(prepared in accordance with Australian equivalents to International Financial Reporting Standards)