11th Sep 2018 13:28
LONDON (Alliance News) - Sareum Holdings PLC said Tuesday it expects to report a loss in its annual results as it progresses on its programmes in autoimmune diseases and cancer.
The drug development company said it expects to report a pretax loss of GBP1.5 million compared to a GBP400,000 profit a year ago.
In the first half the company swung to a GBP830,000 loss compared with a profit of GBP573,000 for the same period the year before. The loss was a result of a share of loss of associates of GBP9,000, compared with a share of profit of associates of GBP1.3 million in 2016.
On an operational level, the company said it made "good progress" advancing its internal inhibitor programmes in autoimmune diseases and cancer.
The company will report its results by mid-October.
Sareum shares were trading up 2.1% at 0.74 pence each.
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