StockMarketWire.com - Biopharmaceutical group PureTech Health said annual operating losses deepened as revenue fell and it continued to study treatments for ADHD and obesity.

The company is still in product development phase and the fall in revenue was caused by variances in grant and milestone payments.

Adjusted operating losses widened to $99.6m, from $60.1m a year earlier. Bottom line pre-tax losses narrowed to $70.7m, from $83.2m.

Operating expenses rose by 55% on the back of increased support for research and development efforts, as well as increased pre-commercial activities.

'2017 was a pivotal year for PureTech Health,' chief executive Daphne Zohar said.

'Among the many milestones successfully achieved, two that stand out from a clinical perspective are the positive pivotal trial results and planned regulatory submissions from our affiliates - Akili (ADHD) and Gelesis (obesity).'

'We also successfully executed on other planned clinical development including the initiation or continuation of eight clinical studies across a range of indications.'

'We expect several of these studies to read out over the next 12-18 months, and we have plans to commence more than 10 additional clinical studies.'


At 8:09am: [LON:PRTC] PureTech Health Plc share price was +9p at 171p



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