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Healthcare company investor Syncona Ltd on Wednesday noted that its portfolio company Freeline Therapeutics PLC trimmed its loss for the first quarter of 2022.
Freeline's pretax loss narrowed to $26.7 million in the three months to March 31, from $34.9 million a year ago. Total operating expenses fell to $28.2 million from $33.9 million, mainly due to a decrease in spending on FLT210, a former product candidate for the treatment of Haemophilia A.
Freeline is a Stevenage, England-based biotechnology company focused on liver directed gene therapies for bleeding disorders and other chronic diseases.
The firm is expected to fully enrol in a Phase 1/2 trial of clinical programmes in Haemophilia B, Gaucher disease and Fabry disease by the end of the third quarter of 2022. Phase 3 start-up activities could start in the first half of 2023, Syncona explained.
Syncona shares were 0.2% higher at 170.40 pence each in London on Wednesday morning.
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