logo-loader
viewe-Therapeutics plc

e-therapeutics sees full-year operating loss significantly reduced as turnaround continues under new CEO

Ray Barlow, who joined as e-therapeutics CEO on 6 April 2017 commented: "During the course of the year, we have continued the turnaround of the business. We are now focused on the right activities"

Search sign
e-therapeutics saw its full-year operating loss reduced to £6.8mln, down from a £16.3mln loss a year earlier

e-therapeutics PLC (LON:ETX) saw its operating loss significantly reduced in the year ended 31 January 2018, having undertaken a  systematic review of its operations under new CEO Ray Barlow.

The AIM-listed drug discovery company saw its full-year operating loss reduced to £6.8mln, down from a £16.3mln loss a year earlier, with an R&D tax credit of £1.4mln lower than the £3.1mln in the previous year.

READ: e-Therapeutics enhances its AI technology capabilities as it signs two collaboration deals

The firm’s cash and deposits at its year-end were £9.6mln, down from £14.0mln a year earlier, but with the cash and deposits reduction of £4.4mln less than the £10.8mln reduction the year before.

Barlow, who joined as e-therapeutics CEO on 6 April 2017 commented: "During the course of the year, we have continued the turnaround of the business. We are now focused on the right activities. With prudent cost control, we are creating as many opportunities for value creation as our current resources allow.”

He added: Our business development efforts are beginning to bear fruit and we are now viewed as a serious and credible innovator with a unique set of technologies and assets.

"In the coming year, we will continue to take a pragmatic approach to explore all avenues of value creation for our Shareholders. We are increasingly optimistic about our future."

Quick facts: e-Therapeutics plc

Price: 3.17 GBX

AIM:ETX
Market: AIM
Market Cap: £8.53 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of e-Therapeutics plc named herein, including the promotion by the Company of e-Therapeutics plc in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

RNS

Holding(s) in Company

1 week, 2 days ago

Holding(s) in Company

2 weeks, 5 days ago

Holding(s) in Company

2 weeks, 6 days ago

Holding(s) in Company

2 weeks, 6 days ago

Holding(s) in Company

2 weeks, 6 days ago

Half-year Report

on 10/07/2019

Holding(s) in Company

on 09/17/2019

2 min read