(Alliance News) - Ilika PLC on Thursday said its full-year pretax loss widened but noted that it is making progress with its Stereax and Goliath programmes.
The Romsey, England-based solid-state battery technology company said pretax loss for the year ended April 30 was GBP8.9 million, widening from GBP8.1 million the year prior. The firm noted that administrative expenses rose to GBP9.0 million from GBP8.0 million a year ago.
More positively, Ilika reported revenue of GBP33,848, up 9.6% from GBP30,878 a year ago.
The firm did not declare a dividend, unchanged from a year ago.
Ilika noted that during the year it despatched the first samples of its Stereax M50 batteries, noting that it is now focusing on completing its contract with Cirtec. It also said it will continue with its Goliath programme, which is making "continued technical progress". The firm expects to deliver data demonstrating lithium-ion energy density equivalence by the end of 2023.
Chair Keith Jackson said: "Regarding Stereax, we have built on the process qualification foundations laid in 2022 by delivering the first batches of Stereax batteries to customers in April 2023. This is a significant milestone for the team, which demonstrates our focus on product commercialisation.
"There is a tremendous amount of innovation taking place in the medical device sector, focused on improving treatments for chronic diseases and Stereax is strongly positioned to add significant value to this effort."
"We are delighted to have been awarded a significant grant to support our collaborations and the planned development work for our Goliath programme... This is an exciting time for the Goliath programme as we push towards the next phase of partner evaluation in 2024, and our ultimate goal of large-scale deployment through licensing," Jackson added.
Ilika shares fell 6.8% to 33.09 pence each on Thursday morning in London.
By Harvey Dorset, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Ilika Plc (IKA)