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EXHIBIT 99.1
ZYMETX, INC.
THE VIRAL DISEASE MANAGEMENT COMPANYSM
800 RESEARCH PARKWAY - SUITE 100
OKLAHOMA CITY, OKLAHOMA 73104
www.zymetx.com
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FOR MORE INFORMATION, CONTACT:
Norman R. Proulx, CEO or R. Jerry Falkner, CFA Herb Haft, Investor Relations
G. Carl Gibson, CFO RJ Falkner & Company The Haft Group, Inc.
ZymeTx, Inc. (800) 377-9893 New York City
(405) 271-1314 [email protected] (212) 759-8865
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FOR IMMEDIATE RELEASE
ZYMETX REPORTS FINANCIAL RESULTS FOR THE FIRST QUARTER
ENDED SEPTEMBER 30, 2000
OKLAHOMA CITY, NOVEMBER 9, 2000 - ZymeTx, Inc. (NASDAQ: ZMTX), a viral disease
management company, today reported financial results for the first quarter of
fiscal 2001.
For the quarter ended September 30, 2000, the Company reported a net loss of
$1,422,000, or $.21 per share, compared to a net loss in the first quarter of
fiscal 2000 totaling $1,736,000, or $.26 per share. Operating expenses declined
19 percent to $1,494,000 during the first quarter of fiscal 2001, compared to
$1,849,000 in the first quarter of fiscal 2000.
As of September 30, 2000, ZymeTx's balance sheet reflected cash equivalents and
short-term investments totaling $2,186,000. On October 13, 2000, the Company
raised an additional $2,000,000 in capital via the issuance of a senior
convertible debentures to a group of institutional investors. On a proforma
basis, this gives the Company in excess of $4 million in cash equivalents.
"We are pleased to report that ZymeTx was able to significantly expand its sales
distribution network and fund development of advanced viral technology platform,
while reducing total operating expenses from prior-year levels, during the first
quarter of fiscal 2001," stated Norman R. Proulx, President and Chief Executive
Officer of ZymeTx, Inc.
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ZYMETX REPORTS FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED SEPT. 30, 2000
NOVEMBER 9, 2000
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The Company currently markets ZstatFlu(R), the world's first rapid point-of-care
test capable of detecting both Influenza A and B. Marketing for ZstatFlu
currently targets doctors' offices, hospitals, reference laboratories, nursing
homes, and such closed-quarter populations as prisons, the military and
industrial settings.
"As this year's influenza season gets underway, consumer awareness of new
therapeutics and diagnostics is increasing," continued Proulx. "ZstatFlu, which
is gaining acceptance in the health care industry, along with the National Flu
Surveillance Network(TM) (NFSN), which monitors and pinpoints flu outbreaks
across the country, allow ZymeTx to serve as the bridge between flu vaccination
and treatment of the virus."
The NFSN is adding, on a daily basis, to its network of surveillance sites and
physicians that report to the NFSN the presence and prevalence of influenza in
their practices in real-time. The upgraded NFSN website, Fluwatch.com, now
records localized outbreaks of influenza at the zip-code level.
"We are pleased that the health care industry and public are becoming aware of
the merits of ZstatFlu and the NFSN. This provides further evidence of the value
of these public health care tools in a comprehensive Influenza Disease
Management program," Proulx concluded.
ABOUT THE COMPANY
ZymeTx, Inc. is a biotechnology company engaged in the development of products
for the diagnosis and treatment of viral disease, viral management and disease
surveillance. The Company developed ZstatFlu, the world's first rapid
point-of-care test capable of detecting both Influenza A and B, and the National
Flu Surveillance Network(TM) (NFSN), a network of physician sites across the
country that use ZstatFlu to track influenza in their communities and practices.
The common stock of ZymeTx, Inc. is traded on The Nasdaq National Market under
the symbol "ZMTX." Additional information on ZymeTx and NFSN can be obtained by
accessing the web sites at www.zymetx.com and www.fluwatch.com.
This press release may contain forward-looking statement including statements
regarding expected future results of operations, which are subject to risks and
uncertainties. All forward-
-more-
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ZYMETX REPORTS FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED SEPT. 30, 2000
NOVEMBER 9, 2000
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looking statements in this press release are based upon historical information
available as of the date of this release. Such historic information may change
or become invalid after the date of this release, and by making these
forward-looking statements, the Company undertakes no obligation to update these
statements for revisions or changes after the date of this release. The
Company's SEC filings contain additional discussions about those facts, which
could cause actual results to differ from management's expectations.
-Financial chart to follow-
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ZYMETX, INC.
CONDENSED FINANCIAL INFORMATION
STATEMENTS OF OPERATIONS
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Three Months ended
September 30
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1999 2000
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(Unaudited)
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Revenues:
Sales $ 9,773 $ 64,780
Cost of Sales 2,455 33,384
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Gross Profit 7,318 31,396
Expenses:
Research and development 329,884 209,103
Product development 296,843 224,369
Sales and marketing 308,740 503,944
General and administrative 913,931 556,244
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Total expenses 1,849,398 1,493,660
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Loss from operations (1,842,080) (1,462,264)
Interest expense (15,803) (9,241)
Interest income 121,993 49,417
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Net loss $(1,735,890) $(1,422,088)
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Basic and diluted net loss per share $ (0.26) $ (0.21)
Shares used in per share calculation 6,695,774 6,840,125
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CONDENSED BALANCE SHEETS
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June 30, September 30,
2000 2000
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(Unaudited)
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Cash, cash equivalents and short term
investments $3,816,310 $2,185,621
Inventory 2,528,664 2,647,245
Total assets 7,151,597 6,000,910
Total liabilities 1,679,702 1,420,665
Stockholders' equity 5,471,895 4,580,245
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