StockMarketWire.com - Medial technology company E-therapeutics reported wider losses as higher costs and lower revenue hurt performance in the first half of the year.

The company also announced the appointment of Ali Mortazavi as chief executive officer. Mortazavi would also retain his position as chairman of the company.

For the six months ended 31 July, pre-tax losses widened to £2.7 million from £1.5 million year-on-year as revenue fell to £37,000 from £188,000.

Research and development costs rose to £1.2 million from £1.1 million and admin expenses climbed to £1.5 million from £599,000.

The increase in costs was largely due to one-off costs associated with the fundraises, the company said.




At 9:55am: [LON:ETX] eTherapeutics PLC share price was +0.13p at 15.38p



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