Last checked at 5 Oct 2017 11:35
Edison Investment Research Limited Edison issues update on e-Therapeutics (ETX) 05-Oct-2017 / 11:34 GMT/BST London, UK, 5 October 2017 Edison issues update on e-Therapeutics (ETX) e-Therapeutics' (ETX) interim numbers demonstrate tight cost control and focus on the rationalised pipeline, with continued investment into the Network-Driven Drug Discovery platform. In the near term, we should see positive data to support out-licensing of its immuno-oncology projects. The company is well-positioned in the 'big data' space and has initiated a robust business development plan, which we expect to bear fruit in the coming year. Total H1 R&D spend was £2.7m (H117: £6.5m), a result of cutting back discovery projects and winding down the clinical study (two patients remain with ongoing costs of 40k/month). The operating loss was £3.7m (H117: £7.6m excluding goodwill write-off). Cash at the half year stands at £12.4m (end FY17: £14m) and cash burn is down to £1.55m for the period (H117: £3.8m). Only minor changes to our financial numbers mean that the company continues to be funded into 2019.Click here to view the full report. All reports published by Edison are available to download free of charge from its websitewww.edisoninvestmentresearch.com About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information please contact Edison: Charlotte Hetzel, +44 (0) 20 3077 5700Dan Wilkinson, +44 (0) 20 3077 5734healthcare@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn https://www.linkedin.com/company/edison-investment-research Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv Dissemination of a FINANCIAL NEWS, transmitted by EQS Group.The issuer is solely responsible for the content of this announcement. |
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