Friday, July 30, 2010
York Pharma Preliminary Results for the Year Ended 30 Sep 2007
Hitchin,
Highlights
Operational
- Acquisition of Rosanto Pharmaceuticals: strengthens R&D capabilities and pipeline
- Acquisition of Derms Development (post period end) provides two marketed, high growth products and an established international distribution platform
- Eleven products/programmes now in clinical and pre-clinical development
- Approval and commercialisation of AbasolTM cream in the
UK for dermatomycoses progressing; partnering discussions ongoing - SabarepTM (YP001) for eczema completed a Phase IIa study in skin barrier repair
- VampexTM (YP003) for psoriasis in Phase II development
Financial
- Pre and post tax loss of £6.5 million; lower than management expectations
- Cash of £4.7 million at the end of the period
- Raised total of £8.25 million during the period through two new equity placings
- Further placing to raise £5.35 million post period end
Terry Sadler, Chief Executive of York Pharma, commented:
"York Pharma has made substantial progress over the past twelve months, having advanced all its products along the development path to commercialisation. Abasol, the lead development product, is awaiting approval in the
"The acquisition of Derms Development since the year end has provided the business with revenues, cashflow and an international distribution platform. This gives the Company increased flexibility over routes to markets for its pipeline products and the critical mass required to target the key international markets.
"Our positive cash position and impressive pipeline of products means we are well-placed to build a world class specialty dermatology company."
Published: 23rd Nov 2007 - 08:32:12
Modified: 23rd Nov 2007 - 08:55:15
