30th Apr 2015 09:37
LONDON (Alliance News) - Immupharma PLC Thursday said it will continue to focus on bringing its potential treatment for lupus Lupuzor to commercialisation, and posted a narrowed loss for 2014 due to a clinical trial completing.
The drug discovery and development company posted a pretax loss of GBP3.3 million for 2014, narrowed from a pretax loss of GBP4.4 million in 2013. Research and development costs shrank to GBP1.5 million from GBP2.1 million as a result of its cancer programme completing an active phase I/IIa trial during the year.
Immupharma posted revenue of GBP184,815 for the year. In the previous year it did not produce revenue.
Following the year end the company signed a deal with clinical research organisation Simbec-Orion Group Ltd to undertake a phase III trial for Lupuzor, the last step before it files for approval.
Last October the company raised GBP3.4 million in a share placing, which it said will be used to fund the trial of Lupuzor.
It completed a phase I/IIa trial in its Nucant cancer programme. The company expects to announce future plans for the programme in combination therapy, and said that the programme has also shown some potential for non-cancerous clinical indications including ophthalmology. It has been awarded a grant to further investigate its potential in this area.
Shares in ImmuPharma are trading down 4.9% at 49.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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