StockMarketWire.com - Computational drug discovery company E-therapeutics reported wider losses as higher research and development costs offset a rise in revenue.

For the six months ended 31 July 2021, pre-tax losses widened to £3.5 million from £2.7 million year-on-year even as revenue increased to £477,000 from £37,000.

The research and development expenditure in H1 2021 increased to £2.5 million from £1.2 million, reflecting a 'doubling in salaries in line with the enlarged scientific headcount and the significant additional investment, both in-house and outsourced, in our computational and RNAi platforms,' the company said.

'We are expecting the R&D in H2 2022 to continue to increase significantly as we accelerate investment in our RNAi platform. We intend to progress further with scaling the existing platform capabilities in H2 2022,' it added.

The company also provided an update on RNAi platform characterisation studies, which showed at least 'equivalent performance in terms of potency, target gene silencing and duration of action (up to three months) against the best competitor data in the same targets.'

Three gene targets expressed in hepatocytes (liver cells) were selected for benchmarking and eight different GalNAc-siRNA construct designs were tested per target.

'The company is now in a position to execute on its ambition of developing an in-house pipeline combining novel target ideas generated using its computational biology platform, and RNAi as a modality,' the company said.




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