Tiziana Life Sciences PLC - London-based cancer drug developer - Pretax loss in six months to June 30 widens significantly to GBP12.6 million from GBP3.9 million year previously. Research & development costs rise to GBP4.4 million from GBP760,000 and operating expenses grow to GBP8.2 million from GBP3.2 million. Does not generate revenue in either period.
Chair Gabriele Cerrone says company made "strong progress" advancing its pipeline in the first half.
Company points to Phase 2 clinical trial in Brazil treating hospitalized, severe Covid-19 patients with intranasal foralumab; expanding its trial at Brigham and Women's Hospital; and the Phase I trial in healthy volunteers using its novel oral enteric-coated capsule formulation of Foralumab.
"Looking ahead, Tiziana is confident that it is well positioned to advance these programs to their next respective value inflection points," he adds.
Current stock price: 53.50 pence
Year-to-date change: down 42%
By Paul McGowan; paulmcgowan@alliancenews.com
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