Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPureTech Share News (PRTC)

Share Price Information for PureTech (PRTC)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 221.00
Bid: 221.00
Ask: 222.50
Change: -1.50 (-0.67%)
Spread: 1.50 (0.679%)
Open: 222.50
High: 225.00
Low: 219.00
Prev. Close: 222.50
PRTC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

PureTech Health Loss Widens; Expects Six Affiliates To Begin Earning

Wed, 24th Apr 2019 12:19

LONDON (Alliance News) - Biotechnology company PureTech Health PLC on Wednesday reported a slightly narrower annual loss despite a sharp rise in revenue.

In 2018, the US-based company, which develops medicines for dysfunctions in the brain-immune-gut axis, reported a pretax loss of USD68.4 million compared to USD70.7 million in 2017.

The company reported a sharp rise in revenue in 2018 to USD20.7 million from USD2.5 million the year before.

PureTech's administrative expenses increased 2.4% to USD47.4 million from USD46.3 million. The company's research & development expenses increased 7.9% to USD77.4 million from USD71.7 million.

In the year prior, PureTech booked a USD85.0 million gain on deconsolidation of its ownership in an affiliate, compared to USD41.7 million in 2018. The company saw a USD57.3 million gain on investments held at fair value. In 2018, the company reported a USD20.3 million loss on investments held at fair value.

"It has been an exhilarating year and we believe we are on the cusp of unlocking significant value for our shareholders. We are gratified by the excellent reception of our Internal R&D group, which has already secured partnerships with two major pharmaceutical companies, validating the science while enabling PureTech Health to retain most of the rights to the core platforms," said Chief Executive Daphne Zohar.

"We believe that six of our affiliates have the potential for monetisation over the next 12 to 18 months, and we are extremely excited by the post-period news about Gelesis' landmark FDA clearance last week, which is a testament to what our team has been able to accomplish by thinking differently about major health issues," added Zohar.

In 2018, PureTech's affiliates raised USD274 million.

Shares in PureTech Health were down 0.8% on Wednesday at 185.00 pence each.

More News
13 Aug 2021 14:45

EXECUTIVE CHANGES: Insig AI executive chair and Palace Capital CFO out

EXECUTIVE CHANGES: Insig AI executive chair and Palace Capital CFO out

Read more
11 Aug 2021 19:54

TRADING UPDATES: Ince launches solution; PureTech gets USD6.5 million

TRADING UPDATES: Ince launches solution; PureTech gets USD6.5 million

Read more
22 Jul 2021 15:35

Director dealings: Puretech Health director raises stake

(Sharecast News) - Puretech Health revealed on Thursday that director Bharatt Chowrira had acquired 25,000 ordinary shares in the FTSE 250-listed biotechnology company.

Read more
22 Jul 2021 14:54

DIRECTOR DEALINGS: Incoming Naked Wines chair buys USD175,000 worth

DIRECTOR DEALINGS: Incoming Naked Wines chair buys USD175,000 worth

Read more
21 Jul 2021 19:14

TRADING UPDATES: Fonix Mobile annual earnings grow; MySale cuts costs

TRADING UPDATES: Fonix Mobile annual earnings grow; MySale cuts costs

Read more
19 Jul 2021 21:14

IN BRIEF: PureTech's Gelesis to merge with Capstar ahead of US float

IN BRIEF: PureTech's Gelesis to merge with Capstar ahead of US float

Read more
9 Jul 2021 18:06

Johnson & Johnson colon inflammation drug sees 55% remission rates

Johnson & Johnson colon inflammation drug sees 55% remission rates

Read more
7 Jul 2021 22:11

TRADING UPDATES: Cohort wins Italian navy contract; Beximco waits

TRADING UPDATES: Cohort wins Italian navy contract; Beximco waits

Read more
30 Jun 2021 19:14

TRADING UPDATES: Topps Tiles improves as curbs ease; Bermele makes buy

TRADING UPDATES: Topps Tiles improves as curbs ease; Bermele makes buy

Read more
28 Jun 2021 13:55

IN BRIEF: Director Scardino buys 10,000 PureTech Health shares

IN BRIEF: Director Scardino buys 10,000 PureTech Health shares

Read more
24 Jun 2021 21:44

DIRECTOR DEALINGS: Melrose non-exec buys shares; TBC director sells

DIRECTOR DEALINGS: Melrose non-exec buys shares; TBC director sells

Read more
23 Jun 2021 17:25

TRADING UPDATES: Marlowe turns to loss; AFC Energy sees maiden revenue

TRADING UPDATES: Marlowe turns to loss; AFC Energy sees maiden revenue

Read more
16 Jun 2021 14:23

IN BRIEF: PureTech buys remaining 22% stake in Alivio Therapeutics

IN BRIEF: PureTech buys remaining 22% stake in Alivio Therapeutics

Read more
26 May 2021 18:03

IN BRIEF: PureTech Health's Akili secures USD160 million in financing

IN BRIEF: PureTech Health's Akili secures USD160 million in financing

Read more
26 Apr 2021 16:02

EXECUTIVE CHANGES: Ebiquity appoints ITV executive Izlan to board

EXECUTIVE CHANGES: Ebiquity appoints ITV executive Izlan to board

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.