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Sareum Holdings PLC - Cambridge-based specialist drug developer - Expects full year loss after tax of GBP1.6million, widening from G960,000 in 2020, cites increased research and development costs put towards preclinical development. Raises GBP2.4 million through two subscriptions in June. Cash at bank expected to be around GBP2.7 million at June 30, compared to GBP1.3 million at December 31 and GBP1.8 million at June 30.
Research project SDC-1801 for treating symptoms of Covid-19 completes, but for treating autoimmune diseases delayed. Cancer immunotherapy project SDC-1802 is ongoing. "We are particularly pleased to have raised substantial additional funding during the period, which will be deployed to advance these programmes into clinical development and build a robust data package to support our ongoing partnering activities for these exciting and differentiated assets," said Chief Executive Tim Mitchell.
Current stock price: 7.75 pence
Year-to-date change: up 220%
By Josie O'Brien; josieobrien@alliancenews.com
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