StockMarketWire.com - Skin health focused SkinBioTherapeutics booked a full-year loss amid a rise in R&D and operating expenses.

Pre-tax losses for the year through June amounted to £1.36m, compared to losses of £0.94m on-year.

The company had cash at the end of June of £3.1m, compared to £3.2m on-year.

It also announced said that a strategic review had identified five channels of focus for development, encompassing both existing and new technology.

'This has been an exciting year for the company,' chief executive Stuart Ashman said.

'The beginning of the year was about proving the sound scientific foundation of our SkinBiotix technology and the positive effects of it on the barrier function of the skin.'

'The successful results drove commercialisation discussions forward which resulted in our recent agreement with the world leader in skincare actives for the cosmetic industry, Croda International.'

'We will continue to seek further commercial opportunities and build the development pipeline with new programmes in eczema and psoriasis during 2020.'


At 8:07am: [LON:SBTX] SkinBioTherapeutics Plc share price was 0p at 17.5p



Story provided by StockMarketWire.com