24th Sep 2020 12:04
OptiBiotix Health PLC - York-based life sciences company - For first half of 2020 posts pretax loss of GBP614,909, narrowing from GBP1.3 million loss the year prior with revenue rising five-fold to GBP744,821 from GBP148,819 as SlimBiome and LPLDL sales surge. Administrative expenses down to GBP896,268 from GBP1.0 million.
Looking ahead, Chief Executive Stephen O'Hara said: "Whilst uncertainty within the global economic environment will create challenges, we believe that our proven strategy of working with multiple partners, across different application areas and geographies within the healthcare sector, will limit the risk related to any individual deal, product, or geography."
OptiBiotix also exploring the potential for a dual international listing in the US or other markets. Preparatory work includes aligning its financial end of year with similar companies on other international exchanges, reducing its holding in SkinBioTherapeutics PLC to reduce the risk of having to include segmental reporting and enhancing its quality and reporting systems.
Cash at June 30 is GBP1.5 million, up from GBP984,170 the year prior.
Current stock price: 50.30 pence
Year-to-date change: down 22%
By Ife Taiwo; [email protected]
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