30th Sep 2019 12:38
(Alliance News) - Medical device company Creo Medical Group PLC said on Monday its interim loss widened amid "commercial momentum" in the half.
The firm generated revenue of GBP7,699 in the six months to June 30, versus nothing a year ago. The company's pretax loss widened to GBP9.3 million, however, from GBP5.2 million a year ago on higher administrative expenses of GBP9.5 million versus GBP5.3 million.
Creo said it achieved "commercial momentum" in the half with products Speedboat and the CROMA Advanced Energy platform.
"We continue to make progress against our strategic objectives, executing on our education led commercialisation plan, targeting selected clinicians and key opinion leaders to drive clinical adoption," said Chief Executive Craig Gulliford.
"In the period we had two successful US Food & Drug Administration pre-sub meetings and remain on track for a suite of cleared GI products during 2019. We continue to invest in our pipeline, positioning us well to become a leading advanced energy, minimally invasive, medical device company," he added.
Shares in Creo were down 3.3% at 146.00 pence in London on Monday.
By Lucy Heming; [email protected]
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