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Pharmaceutical group Diurnal reported a wider losses the first half of the year on higher expenses.
For the six months ended 31 December 2020, pre-tax losses widened to £5.2 million from £4.5 million, while financial income £56k (six months ended 31 December 2019: £34k), reflecting the higher average cash balances held by the Group during the Period.
Research and development expenditure rose to £2.6 million from £2.4 million , and administrative expenses climbed to £1.6 million from £1.1 million.
Looking ahead, the company said its focus was now on preparation for the anticipated approval and initial launches of Chronocort in congenital adrenal hyperplasia during 2021, to 'significantly expand our European cortisol deficiency franchise, towards profitability.'
Commencement of market access activities for Chronocort in European markets is scheduled for Q3 2021, it added.
In a separate announcement, the company said it had extended its distribution arrangements with Consilient Health to include the distribution and marketing of Chronocort in the Nordic region covering Sweden, Norway, Denmark, Finland and Iceland.
If regulatory review is favourable, a marketing authorisation opinion for Chronocort approval in the European Economic Area is anticipated during Q1 2021.
At 9:32am: (LON:DNL) Diurnal Group Plc share price was 0p at 55.5p