All amounts are in Canadian Dollars.
The increased loss resulted mainly from higher costs associated with the expansion of research and development activities and the corporate costs associated with supporting these activities. These increases were partially offset by higher investment income. This increase relates to greater infrastructure requirements in the research, corporate, and business development areas necessary to support advancing the development of the Company's immune modulation therapy. Investment income was higher due to a larger cash and marketable securities balance. The total number of common shares outstanding at the end of the quarter increased to 44.8 million from 44.7 million at year-end and from 38.1 million for the quarter ended February 29, 2000.