PureTech Health slips on first-half results
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FTSE 250 biotechnology outfit PureTech Health (LON:PRTC) has seen its share price drop by 1.11% by 267p (as of 13:00 BST) after it published results for the six months ended 30th June. The company’s operating loss for the period widened by 34.4% but several of the firm’s subsidiaries made substantial steps towards commercialisation.
CEO Daphne Zohar commented: “This has been a transformational period for PureTech, with positive developments across the Group including the FDA clearance of Gelesis’ PLENITY, Karuna’s Nasdaq IPO, two new collaborations with major pharmaceutical companies, the acquisition of a wholly-owned, clinical-stage product candidate for lymphedema – a debilitating condition that affects millions of people – several data presentations and trial initiations, and a significantly strengthened financial position across the Group. This continued momentum across PureTech’s internal and affiliate programmes underscores PureTech’s focus on delivering highly differentiated medicines for devastating diseases and driving value for our shareholders through growth and potential monetization events“.
Wherever I followed the stock market news and updates for the UK stock market I haven’t found any news where the stocks have been showing a positive response. None of the sectors are performing very well like healthcare stocks asx, technology stocks asx, energy sectors, financial sectors, etc. The stocks have been going red for a long time. The news about the BREXIT is the major reason for this I hope.
Today also, puretech stock has dropped and if we see data for about 1 month then it is also showing in red. The UK economy is currently not doing well. Guess we have to wait for long to see the postitive results in FTSE listed companies.