5th Oct 2022 06:55
Trellus Health PLC - New York-based digital health platform provider - Last Friday notes interim loss widens as firm is still in development phase but remains funded into at least 2025. Pretax loss in the half-year that ended June 30 widens to USD4.8 million from USD1.6 million a year prior. Virtually all of loss in either period are administrative expenses. Revenue at USD10,000 versus none. "The group is in the development phase of its business and has only generated revenues related to implementation services totalling USD10,000," company explains.
Looking ahead, Chair Julian Baines says: "We are significantly encouraged by the progress made over the last six-months, and the recently accelerated commercial progress made across both business-to-business-to-customer and direct-to-customer models since the summer". Adds that firm remains well funded into 2025 "on conservative assumptions".
Firm expects its gastrointestinal solution for irritable bowel syndrome to launch in the first quarter of 2023.
Current stock price: 11.22 pence
12-month change: down 82%
By Tom Budszus; [email protected]
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