Wentworth CEO sees both capital and dividend growth opportunities in Tanzania's Mnazi gas field Watch Now

Less Ads, More Data, More Tools Register for FREE

e-Therapeutics Loss Narrows On Higher Revenue And Lower R&D Spend

Tue, 17th Mar 2020 15:10

(Alliance News) - e-Therapeutics PLC on Tuesday reported a narrowed annual loss largely due to lower research & development expenses and a sharp rise in revenue.

Revenue for the financial year ended January 31 rose sharply to GBP456,000 from GBP44,000.

The firm's pretax loss narrowed to GBP2.9 million from GBP5.1 million the year before as research & development spend fell to GBP2.1 million from GBP3.7 million.

e-Therapeutics said this lower R&D figure reflected "lower external spend on our self-funded NDD-derived assets in the year".

"We have instead focussed our R&D investment into improved platform functionality, which has included enhancements in the areas of mechanistic disease segmentation, target identification, MoA and, of course, our new GAINs technology. Enhancements of our technological capabilities will be further advanced in the coming year," the company said.

e-Therapeutics added the Covid-19 pandemic is not expected to materially alter the assumptions included in its budget.

Shares in e-Therapeutics were up 6.0% at 7.10 pence in London on Tuesday.

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

Related Shares

More News

IN BRIEF: e-Therapeutics Plans GBP12 Million Fundraise

IN BRIEF: e-Therapeutics Plans GBP12 Million Fundraise

7 Jul 20 19:05

UK TRADING UPDATE SUMMARY: XLMedia To Sell Finnish Casino Assets

UK TRADING UPDATE SUMMARY: XLMedia To Sell Finnish Casino Assets

10 Jun 20 13:15

E-therapeutics enters collaboration deal with Galapagos

(Sharecast News) - E-therapeutics has entered a collaboration agreement with Galapagos to identify new therapeutic approaches to modulate a specific mechanism involved in idiopathic pulmonary fibrosis (IPF), and potentially in other fibrotic indications, it announced on Wednesday.

10 Jun 20 09:20

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

26 May 20 15:59

Login to your account

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