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1spatial Holdings Share News (SPA)
Share News for 1spatial Holdings (SPA)
| Share Price: 8.375 | Bid: 8.00 | Ask: 8.25 | Change: 1.625 (+24.07%) |  | ||||||
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SR Pharma annual loss little changed; flags appetite for further deals
Fri, 23rd Jun 2006 08:13
LONDON (AFX) - SR Pharma PLC reported annual losses little changed on last year and predicted
In the year ended Dec 31 pretax losses widened slightly to 3.6 mln stg compared to a loss of 3.3 mln last time. Revenues climbed to 508,721 stg from 159,211.
As part of its strategy Atugen AG, a siRNA therapeutics specialist, was acquired last year for 7.5 mln stg.
'We are committed to making further strategic moves to strengthen our position both scientifically and financially and we anticipate further significant transactions during 2006/2007,' it said in this morning's results statement.
Talks with big pharma players interested in its technology base are being pursued, as are M&A discussions with complementary businesses.
In particular the company is looking to grow a presence in the US, through continued M&A activity and collaborations with pharmaceutical and biotech companies.
Any future acquisitions will be accompanied with a further fundraising, if necessary, SR said.
SR Pharma ended the year with 9.1 mln stg in cash, bolstered by a 10 mln stg fundraising conducted last year, and said it has enough cash to last two years. Until it reaches profitability the company said it plans to always have enough cash to last two years.
Shares in the AIM-listed company closed Thursday at 13.25 pence, valuing it at 12 mln stg.
amy.brown@afxnews.com
ab/joy
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
LONDON (AFX) - SR Pharma PLC reported annual losses little changed on last year and predicted
a slew of deals in the coming months as it focuses on building a presence in new RNAi technology, which is used to identify and development novel therapeutics for drug makers.
In the year ended Dec 31 pretax losses widened slightly to 3.6 mln stg compared to a loss of 3.3 mln last time. Revenues climbed to 508,721 stg from 159,211.
As part of its strategy Atugen AG, a siRNA therapeutics specialist, was acquired last year for 7.5 mln stg.
'We are committed to making further strategic moves to strengthen our position both scientifically and financially and we anticipate further significant transactions during 2006/2007,' it said in this morning's results statement.
Talks with big pharma players interested in its technology base are being pursued, as are M&A discussions with complementary businesses.
In particular the company is looking to grow a presence in the US, through continued M&A activity and collaborations with pharmaceutical and biotech companies.
Any future acquisitions will be accompanied with a further fundraising, if necessary, SR said.
SR Pharma ended the year with 9.1 mln stg in cash, bolstered by a 10 mln stg fundraising conducted last year, and said it has enough cash to last two years. Until it reaches profitability the company said it plans to always have enough cash to last two years.
Shares in the AIM-listed company closed Thursday at 13.25 pence, valuing it at 12 mln stg.
amy.brown@afxnews.com
ab/joy
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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SR Pharma says FDA approves investigational application for second siRNA product
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RPT SR Pharma granted core RNAi patent by European Patent Office
(repeating to remove text from bottom of story) LONDON (AFX) - SR Pharma plc said the European Patent Office has granted the company its cor[3 Jan '07]
