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PureTech Health PLC - Boston, Massachusetts-based clinical-stage biotherapeutics firm - Pretax loss in the first half 2022 narrows to $56.0 million from $94.9 million a year before. This is due to a $28.4 million gain on the dilution of its equity interest in Gelesis Inc. Revenue grows 21% to $7.0 million from $5.8 million. Attributes this to increased grant revenue from the Vedanta CARB-X and BARDA grant, as well as Alivio and PureTech LYT Inc.
‘The first half of 2022 has been an exceedingly strong period for PureTech. Our mission is to change the treatment paradigm for patients with devastating diseases, and we have made great progress towards that goal,’ Founder & Chief Executive Daphne Zohar says.
‘We look forward to carrying this success forward into another catalyst rich period as we unlock the potential of validated efficacy to deliver new classes of medicine for patients with devastating diseases.’
Current stock price: 251.00 pence
12-month change: down 26%
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