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Motif Bio materially widens FY pretax loss

By BFN News | 09:40 AM | Wednesday 20 April, 2016


Motif Bio has materially widened its FY pretax loss to USD8.5m, from a year-earlier loss of USD1.2m. General and administrative expenses rose to USD3.6m, from USD1.1m, while R&D expenses hit USD4.7m, from nil. CEO Graham Lumsden said 2015 was a transformational year for Motif Bio, with admission to AIM in April, securing capital of GBP23m (net of expenses) through two equity fundraisings, and achieving a number of key milestones that provides the Company with a platform for further progress in 2016. "Motif Bio is now well-positioned as an antibiotic development company with a lead compound, iclaprim, in Phase III clinical trials targeting serious and life threatening infections and with commercialisation anticipated for 2018," he said in a statement. "We are in the rare position of already having data from more than 500 patients establishing safety and efficacy of iclaprim, including activity against multi-drug resistant bacteria such as MRSA." At 9:40am: (LON:MTFB) Motif Bio Plc Ord 1p share price was -0.25p at 40.25p Story provided by StockMarketWire.com

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