11th Dec 2018 11:47
LONDON (Alliance News) - Oxford BioDynamics PLC on Tuesday reported a sharply narrowed annual loss due to absence of initial public offering related costs.
For the year ended September 30, the biotechnology company's loss totaled GBP2.4 million, compared to GBP4.0 million a year ago. Last year, the company recorded GBP1.5 million in IPO related costs.
Revenue for the financial year remained flat at GBP1.2 million.
"In 2018 we have continued to build on the strong foundations established in 2017 following our successful IPO. We have signed multiple commercial development partnerships, in Europe, the US and China in new and challenging clinical indications," Chief Executive Christian Hoyer Millar said.
Looking ahead, the firm said it is ready to focus on the expansion of its commercial and business development capacity with continued progress in the range of research projects already underway.
Oxford BioDynamics shares were untraded at 205.94 pence each.
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