4D Pharma PLC - Leeds, England-based pharmaceutical company - Posts widened pretax loss for 2021. Pretax loss stretches to GBP57.5 million from GBP30.3 million the year before.
The loss in non-recurring items surges to GBP44.4 million in 2021 from GBP3.1 million the year before, largely stemming from completion of merger with Longevity Acquisition Corp, a special purpose acquisition company.
Revenue falls to GBP522,000 from GBP534,000. "To date we have not generated significant revenue, and we do not expect to generate significant revenues from the sale of our product candidates in the near future," the firm explains. 4D Pharma sees itself sufficiently funded to the fourth quarter of 2022 to deliver on short and medium-term clinical and strategic goals.
No dividends assumed to be paid in the foreseeable future, the company adds. 4D Pharma says it anticipates to require about GBP20.4 million for research and development activities over the next 18 months, based on the execution of existing programmes but also dependent on exchange rates.
Current stock price: 42.28 pence, down 11% on Friday
12-month change: down 62%
By Tom Budszus; tombudszus@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.