28th Sep 2018 10:41
LONDON (Alliance News) - 4d Pharma PLC on Friday said its loss widened only marginally in the first half of the year, despite significantly higher expenses, due to the absence of a non-recurring cost taken a year before.
The pharmaceutical company recorded a pretax loss of GBP13.2 million for the six months to June 30, just marginally wider than its GBP13.0 million loss in the prior year.
It did not incur any non-recurring costs in the recent half year, compared to a GBP3.5 million such cost reported the year before.
However, within operations, research & development costs increased to GBP11.8 million from GBP8.3 million, while administrative expenses doubled to GBP2.0 million from GBP1.0 million.
The company did not record any revenue for the period as it continues to develop its live biotherapeutics products. During the period, 4d Pharma's irritable bowel disease treatment, Blautix, was granted an investigational new drug application in the US.
"Through the successful development of its clinical programmes in the first half of 2018, the company continues to lead the development of live biotherapeutics, as we seek to secure robust clinical data to support the use of this new class of drugs across multiple indications, and from there to progress towards our goal of producing live biotherapeutics as safe and effective therapies," said 4d Pharma Chairman David Norwood.
Shares in 4d Pharma were down 6.7% at 160.97 pence on Friday.
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