viewe-Therapeutics PLC

E-therapeutics loss narrows in half year as it files new patent for drug discovery platform

The biotech and pharmaceuticals firm reported a pre-tax loss of £2.7mln for the period, almost £1mln less than the £3.6mln loss reported a year ago

Pharmaceutical drug
Further reductions in operating losses are expected in the second half

E-therapeutics PLC (LON:ETX) reported a narrower pre-tax loss in the first half of the year, while also filing a new patent for its network-driven drug discovery (NDD) platform after the end of the period.

The biotech and pharmaceuticals firm reported a pre-tax loss of £2.7mln for the period, almost £1mln less than the £3.6mln loss reported a year ago, while it ended the period with cash and cash equivalents of £5.6mln, compared to £7.9mln previously.

READ: e-Therapeutics and C4X Discovery to collaborate on Parkinson's Disease treatment

In its outlook, the company said it was likely there would be a further reduction in its operating losses in the second half of the year, reflecting an ongoing cost reduction plan and anticipated lower spend on two core drug discovery projects.

The firm added that based on financial projections and current funding, it would remain financed into 2020.

Post-period, e-therapeutics said it had filed a new patent covering breakthroughs in the computational approach of its NDD platform.

The NDD is a computer platform that uses data mining and artificial intelligence (AI) to identify compounds that could potentially disrupt the progression of a disease, helping to develop better treatments.

The firm added that during the period it had also been shortlisted as a preferred partner by a number of biopharma companies as part of their AI/machine learning technology selection exercises.

Ray Barlow, chief executive of e-therapeutics, said that the company had also made progress with two existing immuno-oncology drug discovery programmes which had used the NDD platform to generate new projects in “industry-relevant and potentially high-value discovery areas”.

Quick facts: e-Therapeutics PLC

Price: 14.25 GBX

Market: AIM
Market Cap: £59.72 m

Add related topics to MyProactive

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


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...


2 min read