City briefs: MJ Gleeson and 4d pharma

Sheffield-based house builder MJ Gleeson says its results for the current year ending 30 June 2021 are expected to be ahead of market expectations.

In a trading update today, the firm adds the strong demand for new homes has led to higher selling prices, which has more than offset recent increases in certain material costs.

And it notes demand for high-quality consented land from large and medium-sized housebuilders has returned to pre-Covid levels.

The company will publish its scheduled trading update, following the year end, on Friday 9 July 2021.

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Pharmaceutical business 4D pharma has released additional positive data from its completed Phase II trial of the treatment LBP Blautix in people with irritable bowel syndrome with constipation (IBS-C) or with diarrhoea (IBS-D) states it is the first therapeutic globally to have demonstrated efficacy in both IBS-C and IBS-D.

Leeds-based 4D pharma previously announced topline efficacy and safety results from the trial, conducted in the US, UK and Ireland, in October 2020.

Dr Alex Stevenson, chief scientific officer at the company, said: “We are encouraged by the positive outcomes of this additional analysis, and we strongly believe this signal finding study supports the continued development of Blautix as a novel treatment for IBS.

“The Phase II results provide a clear and viable path forward for 4D pharma to continue to develop Blautix to address a significant unmet need.”

Professor Eamonn Quigley, chief investigator of the study, added: “The idea of a single, safe, effective therapeutic able to address multiple sub-types of IBS is a hugely exciting proposition for both patients and clinicians.

“The level of efficacy achieved by Blautix in IBS-C and IBS-D is very encouraging for larger pivotal studies.”

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