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Pin to quick picksValiRx Share News (VAL)

Share Price Information for ValiRx (VAL)

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Share Price: 3.55
Bid: 3.50
Ask: 3.60
Change: -0.30 (-7.79%)
Spread: 0.10 (2.857%)
Open: 3.85
High: 3.85
Low: 3.55
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ValiRx Annual Loss Widens On Higher Costs And Fair Value Losses

Wed, 29th May 2019 10:41

LONDON (Alliance News) - ValiRx PLC on Wednesday reported a widened annual loss due to higher costs and losses on the fair value of financial assets.

For 2018 the life sciences company, which focuses on cancer therapies, posted a GBP4.8 million pretax loss, higher than GBP3.6 million recorded a year ago.

Administrative expenses jumped to GBP2.2 million from GBP1.5 million in 2017, with the company also recording a GBP442,229 fair value loss on derivative financial assets compared to a loss of GBP23,446 last year.

Further expenses amounting to GBP506,755 in provision for bad debt were also incurred in 2018.

Despite the widened loss, the company said it experienced a year of "strong progress" as its therapeutic compounds made "substantive steps forward".

Chief Executive Satu Vainikka said: "I am very pleased with the progress we have seen across our drug portfolio during the period under review and am truly excited by those new technologies and tools that are revolutionising our understanding of cancer, many of which come from ValiRx itself."

"I look forward to patients and shareholders alike benefiting from our on-going efforts to develop new cancer treatments," the CEO added.

ValiRx shares were trading 0.4% lower at 0.25 pence each on Wednesday morning.

On Tuesday, the company terminated a subscription agreement with European High Growth Opportunities SF, but is still try to agree a convertible bond with the same investor.

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ValiRx inks deal with Dundee Drug Discovery Unit

(Sharecast News) - ValiRx announced the signing of a significant agreement with the University of Dundee and its Drug Discovery Unit (DDU) on Monday.

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IN BRIEF: ValiRx signs research sharing deal with Dundee University

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TRADING UPDATES: ValiRx receives shareholder request for board change

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UK shareholder meetings calendar - next 7 days

Friday 29 December 
Apollon Formularies PLCAGM
Eco Atlantic Oil & Gas LtdAGM
Genedrive PLCAGM
Goldplat PLCAGM
Lansdowne Oil & Gas PLCGM re capital raise
Marula Mining PLCAGM
Microsaic Systems PLCGM re fundraise
Online Blockchain PLCAGM
Secure Property Development & Investment PLCAGM
SkinBioTherapeutics PLCAGM
Tetragon Financial Group LtdAGM
Woodbois LtdAGM
Zambeef Products PLCAGM
Monday 1 January 
no events scheduled 
Tuesday 2 January 
no events scheduled 
Wednesday 3 January 
Jubilee Metals Group PLCGM re equity raise
Thursday 4 January 
Rotala PLCGM re management buyout
Tintra PLCGM re cancellation, re-registering as private company
ValiRx PLCGM re operational review
  
Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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IN BRIEF: ValiRx raises GBP192,200, part of wider GBP1.8 million raise

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ValiRx enters option deal with Ambrose Healthcare

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ValiRx says ValiSeek inks deal to licence VAL401 drug with Ambrose

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