4th May 2022 14:11
e-Therapeutics PLC - Oxford, England-based computer-based drug discovery company - Increases loss after investing more in research & development. Pretax loss for the year ended January 31 widens to GBP9.5 million from GBP4.5 million a year ago. Revenue grows to GBP477,000 from GBP317,000.
The company invests GBP6.1 million in research & development, sharply up from GBP2.7 million a year ago. Significant progress has been made in developing an RNAi therapeutics platform, firm explains. Administrative expenses widen to GBP3.9 million from GBP2.1 million.
Citing its budget, e-Therapeutics says "we have sufficient funds to continue in operational existence for at least 12 months from the signing of these financial statements." Adds that it could scale back discretionary spend if appropriate.
Current stock price: 25.20 pence, down 6.3% on Wednesday
12-month change: down 13%
By Tom Budszus; [email protected]
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