29th May 2019 10:01
LONDON (Alliance News) - Pharmaceutical firm Vectura Group PLC said at its annual general meeting Wednesday it is on track to meet full year guidance.
In March, the firm reported a slightly wider annual loss for 2018, despite revenue rising 8.4%.
"We continue to focus on executing our strategy and build on the strong operational performance we reported in our 2018 preliminary results. We were very pleased with the outcome of our US GlaxoSmithKline PLC litigation and the recent EU regulatory filing for QVM149 by Novartis," said Chief Executive James Ward-Lilley at Wednesday's AGM.
"We look forward to additional news flow in the second half 2019; including VR315 (US) repeat clinical study read-out and resubmission, possible partnering of VR647 (US) and potential orphan drug designation for our enhanced niche portfolio of assets."
"Given our strong balance sheet and ongoing cash generation we continue to review our capital allocation policy, including consideration of material shareholder returns, and will provide further updates in due course," he concluded.
Shares were 1.6% lower on Wednesday morning in London at 78.55 pence each.
Related Shares:
VEC.L