StockMarketWire.com - Clinical AI technology group Sensyne Health posted a first-half loss, amid a rise in R&D and administrative spending.

Pre-tax losses for the six months through October amounted to £9.9m, compared to losses of £10.3m on-year.

R&D expenses rose to £5.2m, up from £3.2m on-year.

Chief executive Paul Drayson said the company had made 'excellent commercial and scientific progress' in the first six months of the year.

'The company has met all of the 24-month objectives set out at the time of the IPO in August 2018 ahead of schedule and we are now very well positioned to progress our strategy,' Drayson said.

'We are making good progress on work with our pharmaceutical partners, Bayer and Roche, as well as our clinical AI software development partners, Cognizant and Agorai.'

'Consequently, we currently have significant visibility of a minimum £2m of revenue being earned in the 2020 financial year from our existing contracts.'

'However, the board believes that the current share price does not reflect either the value of what the business has achieved to date, or the significant growth prospects available to Sensyne Health in future.'




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