- Drug discovery company E-therapeutics narrowed full-year losses as it cut back on R&D and administrative spending.

Pre-tax losses for the year through January amounted to £2.9m, compared to losses of £5.1m on-year.

Revenue rose to £0.50m, up from £0.04m.

'I believe that e-therapeutics can offer the industry unique biological insights into complex disease and can ultimately make major advancements into the discovery of novel biology and drug candidates,' executive chairman Ali Mortazavi said.

'I look forward to working closely with the team to align the direction that we see the company taking as we add significant resource to continue with enhancements to our platform and internal discovery projects.'

At 2:24pm: [LON:ETX] eTherapeutics PLC share price was +0.4p at 7.1p

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