9th Jun 2015 08:27
LONDON (Alliance News) - Motif Bio PLC Tuesday posted a slightly widened pretax loss for its wholly-owned subsidiary Motif BioSciences Inc in 2014, a period before it completed its re-organisation, the acquisition of its key asset iclaprim, and its listing on AIM in London.
The company posted a pretax loss of USD1.2 million for 2014, widened slightly from a loss of USD1.1 million in 2013 due to a rise in administrative costs . It did not produce revenue.
Motif listed on AIM in April. Shortly after it listed, the US Food and Drug Administration agreed to its proposed phase III clinical trial programme for its antibiotic iclaprim.
"Motif Bio plc has made excellent progress in a short period of time towards the goal of completing the clinical development of iclaprim and bringing this novel antibiotic to market," said Chairman Richard Morgan in a statement.
Shares in Motif are trading up 4.7% at 67.00 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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