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Nuformix PLC - pharmaceutical development firm based in London - For six months ended September 30, posts pretax loss of GBP475,874, widening significantly from GBP131,842 a year prior. This is as revenue plunges 63% to GBP195,550 from GBP535,000.
Looking ahead, Nuformix says: The board has overhauled the financial management of the group and scrutinised the cash flow and runway based on various scenarios. It has initiated numerous measures to ensure the cost base is kept to a minimum. The group is now in a position to drive its near-term strategic priorities focussed on deriving optimal value through business development and licensing opportunities with its existing assets."
Current stock price: 2.80 pence
Year-to-date change: down 69%
By Ife Taiwo; ifetaiwo@alliancenews.com
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