30th Sep 2019 09:33
(Alliance News) - 4D Pharma PLC said Monday its interim loss deepened on the reversal of a previous currency gain, whilst it continues to progress its drugs development pipeline.
For the six months ended June, pretax loss deepened to GBP14.1 million from GBP13.2 million the year prior. 4D did not generate any revenue in either period.
Profit performance was hurt by a GBP739,000 foreign currency loss recorded during the period, compared to a GBP605,000 profit a year prior. This more than offset a modest reduction in research and administrative costs.
4D does not pay a dividend.
"As our lead programmes progress towards generation of clinical data, the company continues to advance research in the field with the exciting developments in our neurodegeneration programmes," 4D Chair David Norwood said.
Shares in 4D Pharma were 5.3% lower at 94.73 pence in London on Monday.
By Ahren Lester; [email protected]
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