LONDON (Alliance News) - e-Therapeutics PLC said Monday it is "greatly encouraged" by its performance in its first half, as the productivity of its molecule discovery continues to exceed its expectations.
The drug discovery and development company said that in the half year to end-July the company began four new projects with its discovery platform and said it currently has ten active projects in preclinical discovery.
It remains confident in its target of having analysed a substantial number of discovery projects by the end of its current financial year, and for its most promising compounds to enter pre-investigation new drug development by the end of the first half of 2016.
e-Therapeutics has recruited its final patient into a phase IIb study of ETS6103 for the treatment of major depressive disorder that is refractory or relapsing from first-line treatment, and has also recruited the final patient for a phase Ia trial for ETS2101 in brain cancer.
"The discovery platform continues to identify a large number of highly active molecules, indeed molecules with world-leading potency in some cases, and the progress of all discovery and clinical development projects are in line with our expectations," said Chief Executive Officer Malcolm Young in a statement.
e-Therapeutics is scheduled to announce its interim results at the end of September.
Shares in e-Therapeutics were up 1.3% at 38.00 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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