- Losses grew to £29.0m from £23.5 with revenue advancing 40% to £27.9m as announced in Circassia Pharmaceuticals interim report for the period ending 30 June 2019.

The company said growth drivers were in place to achieve £60-£65m for full year revenues in 2019 and that Circassia had benefited from a reduction in net cash outflow since the post period end.

The company also said that there was a strong focus on cost control to transition to self-sustainability.

Steven Harris, Circassia's chief executive, said:

'Circassia made good financial and commercial progress in the first half of 2019, and we are delighted this has accelerated significantly in the past two months as our recent strategic changes begin to deliver results.'

'During 2019, NIOX revenues increased in all our direct markets, as well as those served by our partners, with particularly impressive growth in China following the launch of our new sales team.'

'Since taking full control of Tudorza in the United States at the end of June we have seen encouraging growth in net revenues, validating our newly-introduced commercial strategy.'

At 9:13am: [LON:CIR] Circassia Pharmaceuticals Plc share price was -0.32p at 16.43p

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