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CRISM Therapeutics Corp on Friday said it is confident in its prospects, citing progress in glioblastoma, as it reported an increased loss. The British Virgin Islands-based pharmaceutical firm said pretax loss widened to £593,000 in 2024 from £202,000 a year prior. Revenue was none, compared to £45,000 in 2023. Administrative costs increased to £901,000 from £183,000. Net cash as at December 31 fell 34% to £1.3 million from £2.0 million a year prior. Chief Executive Officer Andrew Webb said the firm has made progress in glioblastoma, the most aggressive and most common type of cancer that originates in the brain. Further, CRISM has successfully initiated another indication for ChemoSeed for prostate cancer, he highlighted. CEO Webb said: ‘Prostate cancer research and development in vitro costs will be funded by the successful award of a grant from Innovate UK which we won in March this year.’ CEO Webb added: ‘CRISM is poised to submit its clinical trial authorisation application imminently and we are confident the phase II clinical trial will be approved by the Medicines & Healthcare products Regulatory Agency [MHRA] which is a key strategic milestone which the Board views as a key value inflexion point. The progress made since joining AIM provides us with confidence in CRISM’s prospects and we remain resolute in our mission to improve the clinical performance of existing drugs through our innovative delivery method.’ CRISM shares fell 4.4% to 22.00 pence each on Friday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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