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2016-02-10

Photocure ASA: Results for fourth quarter and full year 2015

Oslo, Norway, 11 February 2016:
Photocure (OSE: PHO), a specialty pharmaceutical company focused on
photodynamic technologies in cancer and dermatology, announces its results
for the fourth quarter and full year 2015.

Highlights include:

(Numbers in brackets and comparisons are for the corresponding period in
2014.)

* Hexvix/Cysview global in-market sales increased 22% to NOK 59 million in
the fourth quarter and 20% for the full year to NOK 215 million. Full year
in-market unit sales increased 7%
* Sales revenues increased 34% in fourth quarter. Full year sales revenues
increased 31% to NOK 122.3 million (NOK 93.6 million)
* Commercial segment EBITDA increased 70% to NOK 28.7 million (NOK 16.8
million) with EBITDA margin at 21% (17%) for the full year
* Visonac® phase 2b clinical trial results published in theBritish Journal of
Dermatology
* Cash and cash equivalents of NOK 134 million as of 31 December 2015

Key figures:-----------------------------------------------------------------------------------------
| Figures in NOK million 4Q 2015 4Q 2014 Change FY 2015 FY 2014 Change |
| Sales revenues 33.2 24.8 34 % 122.3 93.6 31 % |
| Signing fee&milestone revenues 1.3 1.2 12.4 35.4 |
| Total revenues 34.5 26.0 33 % 134.7 129.0 4 % |
| Operating expenses 41.2 33.8 22 % 144.6 126.1 15 % |
| EBITDA -8.7 -9.7 -18.1 -4.2 |
| EBITDA commercial franchise 4.5 5.1 -11 % 28.7 16.8 70 % |
| EBITDA development portfolio -13.2 -14.7 -46.8 -21.0 |
| EBIT (Operating result) -10.2 -10.0 -22.0 -5.6 |
| Profit/loss(-) before PCI and tax -10.1 -5.4 -17.4 1.5 |
| Earnings per share, diluted (NOK) -0.44 -1.48 -1.69 -1.16 |
| Cash&cash equivalents 134.0 165.2 |
-----------------------------------------------------------------------------------------
President&CEO Kjetil Hestdal, M.D. Ph.D. comments:"Throughout 2015, we made great strides towards our goal of building Photocure
into a Specialty Pharma Company. Consistent with 2014, we continued to drive
revenue growth in all major regions in 2015, while continuously increasing
the profitability of our urology focused commercial franchise. Hexvix/Cysview
market share continues to grow in the TURB segment across the major markets,
and we have started a substantial effort to penetrate the large bladder
cancer surveillance segment. Through new partnerships signed in 2015,
Hexvix/Cysview will expand into Canada, Australia and New Zealand.

We also continued advancements in our product pipeline this past year. With
Cevira, we gained alignment with the US FDA on the pivotal registration
program. In addition, the long term value of our novel late stage, phase 3
ready assets, Cevira and Visonac, were further strengthened with issuance of
new patents."

Please find the full financial report and presentation enclosed.

Photocure ASA will present its interim report today at Hotel Continental,
Oslo, Norway. The presentation will begin at 08.30 (CET) and representatives
from the company will be Kjetil Hestdal, President&CEO and Erik Dahl, CFO.

The presentation will be publicly available atwww.photocure.com. It will be
possible to follow the presentation through alive webcast.

A light snack will be served from 08:00 (CET). The presentation is scheduled
to conclude at 09:15 (CET).

Photocure will additionally host anaudio webcastand conference call today in
English at 17:00 CET / 16:00 GMT / 11:00 EST.

Please make sure to dial in 5-10 minutes prior to scheduled conference call
start time on one of the following numbers:

* NORWAY: +47 2316 2771
* UK: +44(0)20 3427 1913
* USA: +1646 254 3366

Confirmation code: 2815094

It is possible to listen to a replay of the conference call on the following
numbers:

* NORWAY +47 2100 0498
* UK +44 (0)20 3427 0598
* USA +1 347 366 9565

Confirmation code: 2815094

For further information, please contact:
Photocure

President&CEO Kjetil Hestdal
Tel: + 47 913 19 535
Email:kh@photocure.no

CFO Erik Dahl
Tel: +47 450 55 000
Email:ed@photocure.no

Trout International LLC

Lauren Williams
Tel: +44 20 3780 4972
Email:lwilliams@troutgroup.com

About Photocure

Photocure, headquartered in Oslo Norway, is a specialty pharmaceutical company
and world leader in photodynamic technology. Based on our unique proprietary
Photocure Technology(TM) platform, Photocure develops and commercializes
highly selective and effective solutions within disease areas with high unmet
medical need, such as bladder cancer, HPV and precancerous cervical lesions,
colorectal cancer and skin conditions. Our aim is to provide solutions which
can improve health outcomes for patients worldwide. Photocure is listed on
the Oslo Stock Exchange (OSE: PHO). Information about Photocure is available
atwww.photocure.com.

All trademarks mentioned in this release are protected by law and registered
trademarks of Photocure ASA.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

4Q2015 Report
http://hugin.info/131151/R/1985283/728040.pdf
4Q2015 Presentation
http://hugin.info/131151/R/1985283/728042.pdf

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Photocure ASA via Globenewswire

HUG#1985283

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