LONDON (Alliance News) - Biotherapeutics developer 4d Pharma PLC on Thursday posted a wider pretax loss for 2015 due to hikes in research and development spending and in administrative costs.
4d Pharma said its pretax loss for the year to the end of December was GBP10.1 million, compared to a GBP2.4 million loss in 2014. Research and development spending rose to GBP6.9 million from GBP1.8 million and administrative expenses increased to GBP3.6 million from GBP1.7 million. The company does not generate any revenue.
The increase in spending came as 4d Pharma started its first trials on treatments for irritable bowel syndrome and as it gained approval to start trials on a treatment for Crohn's disease.
"We are delighted to release our annual results for the year, which has seen the evolution of the group's discovery projects and research methodology. We now have 15 therapeutic programmes in development covering the areas of autoimmunity, central nervous system (CNS) disorders and cancer as well as a number of candidates progressing through clinical trials," said Chief Executive Duncan Peyton.
4d Pharma shares were down 1.6% to 950.00 pence on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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