RNS out22 Jun 2023 07:09
RNS out, quick cut and paste....
We have been highly encouraged by the early growth trajectory of Eroxon® following launch. Both initial orders of Eroxon by our partners and in-market demand have been in line with our expectations and should continue to build as partners expand sales channels, numbers of outlets and new geographies. Whilst it is too early in the launch to give formal guidance for the full year, we are pleased to report that net reported revenues1 for the six months ending 30 June 2023 will be not less than £1.5 million.
In addition to the benefit of these first revenues from Eroxon®, our balance sheet has also been further strengthened during the first six months of 2023 following the exercise by one of our long-standing and supportive institutional investors of warrants originally issued in 2019 resulting in the receipt of £4.37 million cash and by further milestone payments of approximately £250,000.