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Redx Pharma losses deepen as development spending offsets rising sales
StockMarketWire.com
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Oncology and fibrosis focused Redx Pharma reported a deeper annual loss after rising revenue was offset by higher spending on its development pipeline.
Pre-tax losses for the year through September amounted to £9.2 million, compared to year-on-year losses of £6.3 million.
Revenue rose to £5.7 million, up from £3.1 million.
'Despite clinical development challenges that have affected us, as well as many other companies in our sector, as a result of the global Covid-19 pandemic, Redx has managed to progress its pipeline, further developing its lead programmes in oncology and fibrosis, and is on track to deliver on key milestones in 2021,' chairman Iain Ross said.
'We have a strong and talented management and scientific team and it is with this expertise that Redx has continued to grow and move forward with its strategy.'
At 8:52am: (LON:REDX) Redx Pharma Plc share price was 0p at 62.5p
Story provided by StockMarketWire.com
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