By Najat Kantouar
Synairgen reported a narrowed pretax loss for the first half as research-and-development spending and manufacturing activities decreased.
The U.K. respiratory drug-discovery and biotechnology company said Thursday that pretax loss for the half year ended June 30 was 5.2 million pounds ($6.4 million) compared with GBP14.0 million for the same period a year earlier as expenditure on the Phase 3 Sprinter trial, substantially completed in 2022, fell and manufacturing activities reduced.
Administrative expenses were GBP2.1 million, with the reduction attributable to pre-commercialization activities incurred in 2022.
With no recurring revenue, the company’s available resources are sufficient to cover existing committed costs and the estimated costs of these activities until at least Sept. 30, 2024, Synairgen said.
Write to Najat Kantouar at [email protected]
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