10th May 2021 12:01
RUA Life Sciences PLC - medical device company - Reports continued like-for-like growth in Elast-Eon polymer royalty income. The company says RUA Vascular remains on track for US Food & Drug Administration 510k submission during June and the company expects to recognise first revenue by the end of this financial year.
During the year, RUA Medical third party sales amounted to GBP1.0 million, while operating profit targets set for the calculation of deferred consideration payments were also achieved.
RUA Biomaterials recorded royalty income declined by 5% from the GBP450,000 reported for the year to the end of March 2020 amid unfavourable currency exchange rates. No polymer licensing income was recognised in the year as the industry's focus was on Covid related issues, as a result, research & developemnt projects were deferred, and no new licences were signed.
Current stock price: 140.00 pence, up 1.8% on Monday
Year-to-date change: down 7.9%
By Evelina Grecenko; [email protected]
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