14th Feb 2019 11:26
LONDON (Alliance News) - SkinBioTherapeutics PLC on Thursday reported a widened interim loss on the back of higher research costs as it looks to advance the commercialisation of its main product.
For the six months to the end of 2018, the life science company focused on skin health posted a GBP632,279 pretax loss, compared to GBP386,523 in the first half a year ago.
Research & Development costs increased to GBP391,907 from GBP125,283 a year go, as the company scaled up operations to advance the commercialisation of SkinBiotix.
SkinBiotix is the company's proprietary platform technology. Studies have shown that it can improve the barrier effect of skin models, protect skin models from infection and repair skin models.
"The past six months has continued to be busy, as we put the scientific and manufacturing foundations in place to support SkinBiotix through human safety studies and onto commercialisation," Chair Martin Hunt said. "The next half of the financial year will be focused on progressing partnerships around the technology on the back of the human study data. We expect the next six months to be as equally busy."
Looking ahead, the company expects to complete the in-human study of SkinBiotix in the first quarter of 2019.
"This will be a key milestone, bringing the total number of people treated with the cosmetic formulation close to 200 and placing the company in a strong position to both commercialise the technology with suitable industry partners and continue exploring other avenues for its core technology," it concluded.
SkinBio Therapeutics shares were trading down 1.1% at 18.22 pence each.
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