Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

C4X Discovery up research spending as programme progresses

C4X has an an ambition to increase the number of pipeline programmes more than threefold by 2019
C4X Discovery up research spending as programme progresses
C4X upped its spending on reserach

C4X Discovery Holdings PLC (LON:C4XD) saw losses more than double as the cost of research rose sharply.

The drug discovery company saw loss after tax increase to £2.7mln in the six months ended January 2016, compared to £1mln the previous period.

“Research and development expenses at £2.7m for the six months ended 31 January 2016 showed a significant increase compared with the equivalent prior period,” said executive chairman Clive Dix.

It reflected progress within its development pipeline, particularly the progression of the Orexin programme, its treatment for addictive disorders.

Operating losses were £3.4mln, compared to a loss of £1.2mln.

 “With an ambition to increase the number of pipeline programmes more than threefold by 2019, we believe the group is well positioned to deliver future value to shareholders,” said Dix.

Shares stood at 103p at market close Wednesday.



Register here to be notified of future C4XD Company articles
View full C4XD profile

C4X Discovery Holdings plc Timeline

Related Articles

AZN2.jpg
March 31 2016
Amryt Pharmaceuticals will join the London market in a deal that values it at £29.6mln. A share placing, meanwhile, will bring in £10mln to be used to develop the company’s lead treatment for a rare skin disorder.
shutterstock_184785974.jpg
April 28 2016
Last year's acquisition of Kinesis Pharma meant that it could now offer a one-stop shop for its pharmaceuticals clients and expand its client base.
AZN3.jpg
March 23 2016
Douglas Carrara has joined as vice president of Global Marketing and Commercial Operations, while Tony Saporito has been brought in as vice president of US Sales and Distribution.

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.