4th May 2016 09:17
LONDON (Alliance News) - ImmuPharma PLC Wednesday reported a widened pretax loss for 2015 as it continued to develop its key drug candidate for the treatment of autoimmune disease lupus, Lupuzor.
The drug discovery and development company reported a pretax loss of GBP4.5 million for 2015, widened from a pretax loss of GBP3.3 million in 2014, as revenue fell to GBP76,407 from GBP184,815, mostly as a result of higher research and development costs and administrative expenses.
During the year the company was focussed on progressing Lupuzor, with a phase III clinical trial progressing. Recruitment is underway for this trial to enroll 200 patients, and this trial is fully funded following fundraising after the year end.
The first US sites in the trial began dosing patients after the year end in February.
Outside of lupus, ImmuPharma also continued to focus on expanding the pipeline for forigerimod, Lupuzor's chemical name, including filing a new patent to cover other autoimmune indications.
"ImmuPharma is focused on ensuring the successful development of the late stage clinical development of Lupuzor through its pivotal Phase III trial. The key milestone this year is the completion of the recruitment of the 200 Lupus patients with top line results announced by the end of 2017, and management will continue to communicate on a regular basis with shareholders as this trial progresses," said Chairman Tim McCarthy in a statement.
Shares in ImmuPharma were up 4.6% at 30.85 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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