- Pharmaceutical services company Open Orphan booked a full-year loss and said it was looking to sell non-core assets.

Pre-tax losses for the year through December amounted to €6.6m, compared to losses of €1.7m for the period running between 18 July, 2017 and 31 December, 2018.

The company booked revenue of €4.0m, which was more than offset by project and administration costs.

Open Orphan said a strategic review was underway to seek to monetise its 49% stake in Imutex and our other non-core investments, such as a 62.5% stake in PrEP Biopharm.

A further €2.5m of cost was set to be removed from the business in the second half of 2020.

The company said it was eyeing 'unprecedented' growth opportunities as pharma focused funding on Covid-19 and respiratory diseases, presenting opportunities for the company's Covid-19 and non-Covid-19 challenge studies.

At 2:15pm: [LON:ORPH] share price was +0.13p at 12.13p

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