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LONDON (Alliance News) - Feedback PLC Friday posted a widened loss for its first half, and said that 2015 is expected to be "a year of transition" as it moves from development to commercialisation with its TexRad software for the pharmaceutical trials market.
Feedback posted a pretax loss of GBP229,000 for the half year to end-November, widened from a pretax loss of GBP122,000, as revenue of GBP229,000 was offset by operating expenses of GBP415,000.
The company, which became in investing company in 2013 after it sold its previous operating businesses to pay off debts after losses mounted at its education business, acquired Cambridge Computed Imaging Ltd and TexRad Ltd through a reverse takeover in May last year.
In Cambridge Computed Imaging it made progress towards achieving an ISO 13485 standard during the half year. TexRad got a European patent, and the company expects to launch a commercial version of the TexRad software later this year after getting a 21 CFR 11 self certification.
Feedback said that the approval application of its software with the US Food and Drug Administration has been more difficult than it had expected due to new procedures. It expects the application to be made during the second quarter of 2015.
Feedback is continuing to look at acquisitions and collaborations with research institutions, it said.
Shares in Feedback are trading up 3.2% at 1.60 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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