StockMarketWire.com - Antibiotics developer Motif Bio booked a narrowing of first half losses after it cut back on R&D spending.

Net losses for the six months through June narrowed to $7.8m, from $29.7m on-year.

'We made tremendous progress during the first half of 2018, including completing the submission of an new drug application with the FDA for iclaprim in acute bacterial skin and skin structure infections,' chief executive Graham Lumsden said.

The application was accepted for review in August with confirmation of a priority review from FDA resulting in an approval date of February 13, 2019.

'We are continuing to build on our achievements and are working to increase awareness and understanding of Motif Bio and iclaprim with potential commercialization partners, the medical community and investors,' Lumsden said.






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