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Evgen Pharma annual losses widen on rising costs

By BFN News | 10:06 AM | Tuesday 15 June, 2021


Clinical stage drug development company Evgen Pharma reported wider annual losses on increased costs. For the year ended 31 March 2021, pre-tax losses widened to £3.2 million from £3.17 million year-on-year. Revenue was £0.19 million for the year. Operating expenses - excluding share-based compensation - were higher at £3.5 million, up from £3.0 million, reflecting 'some reduction in payroll costs offset by increased professional fees and business development costs,' the company said. 'As expected, the March review on 60 patients by the DMC found no reason to discontinue the trial on safety grounds. We look forward to its assessment of futility which we expect later this month,' the company said. 'We are excited at the prospect of initiating an efficacy trial in glioma, and potentially JMML given the preclinical data generated in both indications. Initial data showing SFX-01 may be of benefit to mBC patients who have developed resistance to CDK4/6 inhibitors is also very encouraging,' it added. Story provided by StockMarketWire.com

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