NexgenRx Inc.

NexgenRx Inc.

May 04, 2007 18:36 ET

NexgenRx Announces 2007 First Quarter Results

TORONTO, ONTARIO--(CCNMatthews - May 4, 2007) - NEXGENRX INC. ("NexgenRx" or the "Corporation") (TSX VENTURE:NXG) is pleased to announce its 2007 first quarter results.

Revenue from transaction fees for the quarter ended March 31, 2006, of $71,000, represented an increase of $37,000 over the prior year comparable quarter.

The net loss for the quarter was $858,000 ($0.02 per common share), net of a $291,000 tax credit related to prior years, compared with a loss of $1,302,000 ($0.11 per common share) in the prior year comparable quarter.

On May 4, 2007, the Corporation granted to certain of its employees, an aggregate of 5,000 options to acquire common shares in the capital of NexgenRx at a price of $0.35 for 5 years (vesting as to 20% each year for four years, beginning on the first anniversary of the grant date, and the final 20% on the date that is 90 days prior to the fifth anniversary of the grant date). The foregoing option grants are subject to final regulatory approval.

The Corporation's Interim Financial Statements and Notes, the Corporation's Management's Discussion and Analysis, and all additional required financial disclosure in respect of the interim period ended March 31, 2007, are available at

About NexgenRx

NexgenRx is a growing health benefits management company engaged in the design, management and administration of health benefit plans offered by employers and other plan sponsors for the benefit of their employees and plan members. NexgenRx provides an efficient, cost-effective alternative to insurers for those Canadian plan sponsors who are providing, or wish to provide, an adminstration services only, or "ASO" health benefit plan to their plan members. NexgenRx also provides a competitive alternative for the provision of health benefit claims adjudication services to third party administrators who manage and administer benefit plans on behalf of a number of plan sponsors and whose services to such plan sponsors include, but are not limited to, the adjudication and payment of health benefit claims made under the plans managed and administered by them.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • NexgenRx Inc.
    Ronald C. Loucks
    President and CEO
    (416) 695-3393 x 801
    (647) 722-2920 (FAX)
    NexgenRx Inc.
    Jeff Dawley
    VP Finance, CFO and Corporate Secretary
    (416) 695-3393 x 803
    (647) 722-2921 (FAX)