LONDON (Alliance News) - e-Therapeutics PLC on Wednesday said it remains focused on the commercial validation of its drug discovery platform, and it remains well funded.
In a statement ahead of its annual general meeting, e-Therapeutics said that two of its most advanced projects are approaching lead candidate selection, and it expects the most advanced of these projects will enter preclinical development in the coming months.
Elsewhere, the company's discovery programme in immunotherapy now covers four projects, and it is encouraged by progress in its antiviral programme.
"We remain focused on the commercial validation of our proprietary drug discovery platform. The company remains well funded, our last reported cash balance was GBP24.8 million, and we anticipate receiving a Research and Development tax credit of GBP2.5 million in the short term," said Chairman Iain Ross in the statement.
Shares in e-Therapeutics were up 3.5% at 13.71 pence.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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