Pharmaceutical firm records first half loss
4D pharma, a Leeds-based pharmaceutical company, which has recently seen “notable results” in the first phase of its clinical trial of into the use Live Biotherapeutics in cancer treatment has recorded a loss before tax of £13.6m for the six months ended 30 June.
The firm stated it has increased its research and development expenditure by 14% to £12.4m in the same period as it continues a clinical trial of immunomodulatory candidate MRx-4DP0004 in hospitalised COVID-19 patients, alongside its trials for IBS and cancer treatments.
Since the end of June, the business has secured £7.7m in gross proceeds as a result of a fundraise through the issue of new shares, which will be used to progress opportunities in ongoing studies and clinical development.
Axel Glasmacher, non-executive chairperson of 4D pharma, commented: “In the first half of 2020, we have begun to convert on the strong clinical foundations laid in previous years, delivering the robust clinical data the field has been demanding, while continuing to expand our clinical development activities. We have added yet more experience to our Board, positioning 4D pharma to continue its growth throughout the remainder of 2020 and beyond. So far 2020 has the makings of a pivotal year for the microbiome field, and we look forward to continuing to pioneer this rapidly maturing novel area of medicine, and delivering more ground-breaking data.”