3rd Jun 2025 13:37
(Alliance News) - TheraCryf PLC on Tuesday reported it was in a good position despite "difficult markets" after narrowing its full-year loss.
The Cheshire, England-based pharmaceutical firm focused on cancer treatment and brain disorders said its pretax loss in the year to March 31 was GBP2.1 million, compared to GBP3.6 million on-year. Diluted loss per share narrowed to 0.36 pence from 1.14p the year prior.
Net cash at March 31 rose to GBP4.1m from GBP2.0 million on-year. However, TheraCryf posted no annual revenue, down from GBP396,000 the previous year.
The company claims to have refocused its strategy over the 12-month period, and is prioritising addiction treatments.
"This year has been one of expansion, following the acquisition of Chronos Therapeutics giving us two potentially high value assets to treat brain disorders, but also one of careful cash management in the midst of difficult markets," commented Chief Executive Huw Jones.
"We are now in a strong position, with an expanded pre-clinical pipeline and a more focused strategy based on our class-leading orexin-1 antagonist providing an exciting avenue into the treatment of addictive disorders."
"We are pleased with the achievements this year, which have positioned us well for an active programme of activities in the coming years which will not only add value to the business but also drive forward potential new treatment options for patients in areas with real unmet medical needs."
TheraCryf in May said it had partnered with Pharmaron Inc, a Beijing-based drug research contractor, on clinical trials of orexon-1. The drug blocks the brain's ox-1 receptor, which has the potential to ease the neurological effects of addiction, the drug company claimed.
TheraCryf shares were down 2.0% at 0.27p each on Tuesday afternoon in London.
By Holly Munks, Alliance News reporter
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