30th Jan 2015 09:57
LONDON (Alliance News) - Oxford Pharmascience Group PLC said Friday that it expects to post a pretax loss of around GBP3.5 million for 2014 due to increased investment in its pipeline, on revenue of around GBP700,000.
The company said that it closed 2014 with cash of around GBP6.7 million, which it says will be enough to deliver its portfolio of non-steroidal anti-inflammatory drugs, or NSAIDs, through to expected commercialisation in 2015 and beyond.
The company is focused on its NSAID programme, with proof-of-concept studies for both its OXPzero Ibuprofen and OXPzero Naproxen going ahead in the first half of 2015. It results are positive it believes it will be able to begin partnering talks on the products in the second half.
Oxford Pharmascience is scheduled to report its full year results around March 5.
Shares in Oxford Pharmascience are untraded Friday. It last closed at 3.95 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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