- Clinical-stage biotherapeutics company PureTech Health swung to a first-half loss as it continued to invest in the development of treatments for various diseases.

Pre-tax losses for the six months through June amounted to $94.9 million, compared to a year-on-year profit of $174.5 million.

Revenue fell to $5.8 million, down from $6.8 million, while expenses, including R&D spending, rose to $48.3 million, up from $38.3 million.

PureTech also recorded lower gains on investments held at fair value and some losses realised on investment sales.

'This has been another strong period for PureTech,' founder and chief executive Daphne Zohar said.

'We have made exciting clinical progress across both our wholly owned pipeline and our founded entities, and substantial financial momentum leaves us in an excellent position to continue delivering on our promise to patients and to creating value for shareholders.'

Story provided by