Motif Bio PLC - AIM cash shell - Posts pretax loss of USD6.1 million for 2019, narrowed from USD14.0 million in 2018. This was as administrative expenses fell to USD1.2 million from USD1.7 million. Loss from discontinued operations narrowed to USD10.4 million from USD18.8 million. Looking ahead, it said it is working towards sealing a reverse takeover by January 2021. Failure to do so will result in its shares being cancelled on January 28.
Unaudited results for the six months ended June 30 will be published by no later than October end.
Cash at July 31 at USD800,000, up from USD700,000 as at December-end.
Current stock price: Shares suspended from trading on July 29
By Ife Taiwo; ifetaiwo@alliancenews.com
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