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SkinBioTherapeutics posts first-half loss on R&D, operating costs
StockMarketWire.com
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Skin-health focused SkinBioTherapeutics posted a first-half loss as it continued to shell out on R&D and other operating costs.
Pre-tax losses for the six months through December amounted to £0.63 million, compared to losses of £0.89 million year-on-year.
SkinBioTherapeutics did not book any sales over the period.
'The company has made strong progress over the first half of the year, which given the continued impact that the Covid-19 pandemic has had across the UK and internationally, has been an outstanding achievement by the team,' chief executive Stuart Ashman said.
Ashman said the company had acted decisively and swiftly in adapting a AxisBiotix-Ps food supplement consumer study into a format that allowed for remote participation.
Its SkinBiotix cosmetic programme, meanwhile, was progressing on schedule, with Croda/Sederma 'making excellent strides' on both the manufacturing and commercial positioning sides.
'We anticipate seeing significant progress in both areas of work during 2021,' Ashman said.
Story provided by StockMarketWire.com
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