Redx Pharma PLC - Macclesfield, England-based clinical-stage biotechnology company focused on the treatment of cancer and fibrotic disease - In the half year ended March 31, pretax loss narrows to GBP9.7 million from GBP12.7 million year-on-year. Revenue multiplies to GBP8.4 million from GBP2.1million. Reports strong progress across its pipeline, especially its lead oncology asset RXC004 moving into phase II clinical trials, and its lead fibrosis asset, RXC007, reporting "encouraging" phase I safety data. Says its Rock inhibitor RXC008 has the potential to become a first-in-class treatment for fibrostenotic Crohn's disease, and is likely to be ready to enter the clinic by the end of next year.
"[These developments] ensure that we are positioned at the forefront of potential clinical developments for hard-to-treat diseases with high unmet need, and supports our ambition of submitting three new wholly-owned [investigational new drugs] by 2025," says Chief Executive Officer Lisa Anson.
Current stock price: 63.74 pence, down 0.4% on Thursday
12-month change: up 2.0%
By Elizabeth Winter; elizabethwinter@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
