Evgen Pharma reports slight uptick in losses on increased costs

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Drug development company Evgen Pharma reported a slight increase in pre-tax losses as costs inched higher amid continued clinical expenditure on trials of its breast cancer drug.

For the year ended 31 March 2019, pre-tax losses widened to £3.12m from £3.03m as operating expenses rose to £2.99m from £2.92m.

The financial performance for the year was in line with expectations, the company said.

'Our metastatic breast cancer Phase II trial achieved its primary endpoints and we have a further Phase II trial to report in the current year in a different disease area,' it added.

'This has been an exciting year for Evgen. With our positive Phase II breast cancer data already announced, and further clinical data due this year, we look forward to maintaining the momentum in our development programmes and continuing to create value in the business,' said Dr Stephen Franklin, Chief Executive Officer of Evgen Pharma.