LONDON (Alliance News) - Tiziana Life Sciences PLC on Thursday reported a slight reduction in its annual loss as costs were reduced.
For 2018, the clinical stage biotechnology company posted a GBP7.5 million loss compared to GBP8.3 million the year prior.
Research & development costs reduced marginally to GBP4.1 million from GBP4.7 million ,while operating expenses dipped to GBP3.3 million from GBP3.6 million.
As it is currently at a drug development stage, Tiziana does not generate any revenue.
Looking ahead, Tiziana said it continued to progress its pipeline of drugs to treat rare cancers, autoimmune and inflammatory diseases.
"Tiziana is confident that it is well positioned to advance these programs to their next respective value inflection points," it added, referring to two on-going developments for anti-CD3 antibody Foralumab and broad spectrum inhibitor of CDKs Milciclib.
Tiziana shares were untraded at 42.00 pence each on Thursday.