Redx Pharma Says It Made "Good Progress" In Second Half

LONDON (Alliance News) - Redx Pharma PLC Thursday said it made "good progress" over the second half of its recently ended financial year, with expenditure in line with budgets.

The drug discovery and development company expects to report an operating income of GBP2.8 million for the year ended Wednesday. It listed on AIM in January of this year.

The company said it remains in "encouraging" discussions with a number of parties over further commercial collaborations, and it remains confident of securing further commercial agreements in due course. Elsewhere its oncology and anti-infectives research programs have continued to progress well.

It expects to report its maiden full year results in mid-January 2016.

Shares in Redx Pharma were up 0.3% at 101.80 pence Thursday.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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