BOTHELL, Wash.--(BUSINESS WIRE)--Helix BioMedix, Inc. (OTCBB: HXBM), a developer of bioactive peptides, today announced financial results for the first quarter ended March 31, 2009. For the first quarter of 2009, the company reported revenue of approximately $87,000, compared to revenue of approximately $240,000 in the first quarter of 2008. Net loss for the first quarter of 2009 was approximately $920,000, or ($0.04) per share, compared to a net loss of approximately $1.3 million, or ($0.05) per share, in the same period one year ago. The improvement in the net loss was primarily attributable to a reduction in operating expenses of approximately $83,000 and a reduction of $366,000 in non-operating expenses primarily resulting from declines in convertible notes payable discount accretion and derivative instrument fair value adjustments.
