NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

August 15, 2008 16:10 ET

NexgenRx Announces 2008 Second Quarter Results

TORONTO, ONTARIO--(Marketwire - Aug. 15, 2008) - NEXGENRX INC. (TSX VENTURE:NXG) ("NexgenRx" or the "Corporation") is pleased to announce its 2008 second quarter results.

Revenue from transaction fees for the three months ended June 30, 2008, of $352,000, represented an increase of $275,000 over the prior year.

The net loss for the three months ended June 30, 2008 was $765,000 ($0.01 per common share), compared with a loss of $1,221,000 ($0.03 per common share) in the prior year.

During the quarter, NexgenRx completed conversion of the Co-operators Life Insurance Company business. This implementation, in addition to the large third party administrator added to the system in late 2007, has resulted in significant revenue growth from 2007 to 2008. The Corporation continues to add new business through the organic growth of existing clients, supplementing the larger new client implementations.

The Corporation's major focus for the remainder of the year is to continue aggressively marketing to a target audience of large service providers, primarily Third Party Administrators, and to help current partners expand organically in their chosen markets.

The Corporation's unaudited Interim Financial Statements and Notes, the Corporation's Management's Discussion and Analysis, and all additional required financial disclosure in respect of the period ended June 30, 2008, are available at www.sedar.com.

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. More information on NexgenRx can be found at www.nexgenrx.com.

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Corporation. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements.

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)
    or
    NexgenRx Inc.
    Jeff Dawley
    Chief Financial Officer
    (416) 695-3393 x 806
    (647) 722-2921 (FAX)
    Website: www.nexgenrx.com