e-Therapeutics books loss but revenues are beginning to arrive

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e-Therapeutics books loss but revenues are beginning to arrive
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AIM-listed network drug discovery firm e-Therapeutics (LON:ETX) has seen its share price drop by 4.26% to 4.50p (as of 09:00 GMT) as it continued to make a loss during the year ended 31st January. The firm signed its first research collaboration deal and work began on the arrangement during January, which has begun to generate some revenues.

CEO Ray Barlow commented: “During the year we continued to make good operational progress and began to realise the full potential of our NDD platform and approach. We secured our first commercial deal with Novo Nordisk in type 2-diabetes, continued to develop and invent new assets and programmes in commercially-relevant areas and we generated new NDD-based innovation in the highly attractive field of functional genomics.

In executing our plans, we have managed our cash and resources carefully to nurture our core business and to enable us to continue to offer a range of assets and capabilities to the industry. We remain focused on our extensive business development efforts and are in a number of detailed discussions with potential partners. Confident in the broad versatility and utility of the NDD platform, we remain focused on translating this into value for our shareholders“.

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