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Avacta Group PLC - Wetherby, England-based life sciences company that develops targeted oncology drugs and diagnostics - Pretax loss widens to £12.8 million in the six months that ended June 30 from £9.7 million a year before. Revenue doubles to £11.9 million from £5.5 million, but selling, general and administrative expenses near double as well, to £8.6 million from £4.7 million. Research costs are steady at £6.0 million. Has £26.0 million cash, up from £17.0 million a year before, though down from £41.8 million on December 31. Highlights success of AVA6000, a chemotherapy drug for cancer patients, in a Phase 1a clinical study. Avacta aims to complete a dose escalation safety study and provide results during the fourth quarter. Current stock price: 121.10 pence 12-month change: up 10% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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