StockMarketWire.com - Pharmaceutical company Redx Pharma posted a deeper annual loss as it continued to develop potential treatments for cancer and fibrosis.

Pre-tax losses for the year through March amounted to £12.7 million, compared to year-on-year losses of £4.0 million.

The company had successfully completed dosing of the first four patient cohorts in a phase-one clinical trial of its lead oncology asset.

Redx had cash at 31 March of £39.9 million, which it said provided a cash runway through 2022.

'We continue to make strong progress with our pipeline, with drug candidates from both our oncology and fibrosis programmes now in the clinic following RXC007, our ROCK2 selective inhibitor, initiating clinical trials,' chief executive Lisa Anson said.

'Furthermore, we expect to progress RXC004, our lead oncology asset, into phase-two studies in the second half of 2021, once we complete the phase-one study currently in the final patient cohort.'

'We continue to be excited by the differentiated programmes in our growing pipeline and look forward to further progress at Redx.'

At 9:41am: [LON:REDX] Redx Pharma Plc share price was 0p at 62.5p



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