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Shares in AIM-listed drug discovery Immupharma (LON:IMM) dropped by 5.41% to 9.79p (as of 14:25 BST) after it reported a broadly flat loss for the half year ended 30th June. Revenues were minimal as the company remained in the clinical development phase. Management said that they were confident in the medium-term prospects of Lupozor but that losses were expected at this time.
Chairman Tim McCarthy commented: “With further analysis gained from our Phase III results, together with our extension study successfully meeting its endpoint confirming its safety profile, we are focused on progressing LupuzorTM into a further Phase III trial. Our plans to create further shareholder value within our Peptide Platform (Ureka) and Nucant (Elro Pharma) continue. We look forward to reporting on these developments. We would also like to take this opportunity to thank our shareholders, scientific advisors, corporate collaborators and the CNRS“.
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