30th Sep 2019 10:40
(Alliance News) - Drug development company ImmuPharma PLC on Monday reported a broadly stable interim loss despite revenue falling, with its focus on gaining full regulatory approval for Lupuzor.
Shares in ImmuPharma were down 4.2% at 9.92 pence in London on Monday.
Revenue for the six months to June 30 was GBP11,737, down sharply from GBP73,392 a year ago. Pretax loss was broadly unchanged at GBP4.1 million, from GBP4.2 million a year ago.
Research & development costs were lower at GBP1.4 million from GBP2.5 million, while share based expenses rose to GBP1.0 million from GBP775,135.
In the medium-term, ImmuPharma said it remains focused on achieving the full regulatory approval of Lupuzor, which it said it believes has the potential to be "ground breaking" for lupus patients.
"With further analysis gained from our Phase III results, together with our extension study successfully meeting its endpoint confirming its safety profile, we are focused on progressing Lupuzor into a further Phase III trial," said Chair Tim McCarthy.
He added: "Our plans to create further shareholder value within our Peptide Platform (Ureka) and Nucant (Elro Pharma) continue. We look forward to reporting on these developments."
By Lucy Heming; [email protected]
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