LONDON (Alliance News) - Evgen Pharma PLC Monday said it remains "very encouraged" by the development of its lead product, SFX-01, for the treatment of breast cancer, and it reported a flat pretax loss for its first half, its maiden results since listing on AIM in October.
For the half year to end-September the company reported a pretax loss of GBP1.2 million, flat from the previous year, as a slight increase in operating expenses to GBP508,000 from GBP445,000 was offset by lower finance expenses.
Evgen expects to begin recruitment for a Phase IIa trial of SFX-01 and hormone therapy in the third quarter of 2016, with the trial expected to complete at the end of 2017.
The company is also exploring the drug for the treatment in other disease areas, and in April saw positive preclinical results for the use of the product in osteoarthritis. It is also progressing the drug into preclinical studies in multiple sclerosis.
"We remain very encouraged about the development of our lead product, SFX-01, as it progresses into Phase II clinical trials in metastatic breast cancer and subarachnoid haemorrhage and into preclinical studies in multiple sclerosis. Preparations for these trials and studies are proceeding to schedule and the Company will also continue to collaborate with investigators in other disease areas," Chief Executive Officer Stephen Franklin said in a statement.
Shares in Evgen were down 3.1% at 27.62 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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