e-Therapeutics PLC - Oxford, England-based computer-based drug discovery company - Says 2023 was
"a year of significant execution and progress" with all nominated targets yielding positive preclinical results. Expects to end financial year ending January 31 with a strong balance sheet and a cash position of around GBP20.1 million, compared to GBP31.7 million a year ago, exceeding expectations. Chief Executive Officer Ali Mortazavi says: "Against the backdrop of the harshest macroeconomic and sector conditions seen in decades, 2023 was a year of remarkable progress for e-therapeutics. We now have compelling evidence demonstrating the applicability of our computational/AI systems across our business. We have reproducibly and rapidly progressed multiple programs from novel target discovery to strong in vivo proof-of-concept, with an outstanding hit rate. This has all been achieved with a rigorous eye on our costs and maintaining a healthy balance sheet."
Current stock price: 16.00 pence, up 12%
12-month change: down 1.8%
By Sabrina Penty, Alliance News reporter
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E-therapeutics (ETX)