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Synairgen FY pretax loss narrows slightly

By BFN News | 08:15 AM | Thursday 20 March, 2014


Synairgen posted a FY pretax loss of £2.3m, from £2.5m a year earlier. Revenue was nil. Most of the loss was research and development expenditure, and other administrative expenses. Chairman Simon Shaw said Synairgen made significant progress this year and held encouraging discussions with a number of potential licensing partners. "Whilst there can be no guarantee that an agreement will be completed, we anticipate that the terms of a final agreement will be in line with the Board's expectations," Shaw said. "In addition to our licensing discussions, we continue to explore additional avenues to add value to discovery and development opportunities through our advanced and proven translational research platform for respiratory disease." Highlights included: - Ongoing licensing discussions for SNG001 - Further developments being identified for Synairgen's advanced technology platform - Research and development expenditure for the year: £1.3 million (2012: £1.5 million) - Post-tax loss for the year: £2.0 million (2012: £2.3 million) - Cash, cash equivalents and bank deposits at 31 December 2013: £1.3 million (2012: £3.1 million) - Balance sheet strengthened post year-end with fundraising of £1.5 million (gross) completed in March 2014 At 8:15am: (LON:SNG) Synairgen PLC share price was +0.25p at 55.75p Story provided by StockMarketWire.com

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