Incanthera PLC (AQSE:INC), the Aquis Exchange-listed company focussed on innovative technologies in dermatology and oncology, has reported its unaudited interim results for the six months ended 30 September 2022, showing strong financial control through the period.
The company said this had ensured its financial position is on budget and said it also has strength in infrastructure and intermediary relationships to enhance the pathway to potential commercial success.
Incanthera said commercialisation discussions for its skincare formulations continue to progress positively, specifically concentrated towards the global potential for their various applications.
In the results statement, Tim McCarthy, Incanthera chairman, commented: "The period under review has concentrated upon furthering discussions to capitalise on the potential for various applications of our skincare portfolio for commercial success.
"These discussions continue to show great potential and the team is dedicated to reaching the right conclusion for the commercialisation of our skincare range as we look to take our company forward with future success for our team and our shareholders."
He concluded: "As we approach the end of 2022, I would like to thank our shareholders for their continuing loyalty and support and our team for their unwavering hard work and dedication. We look forward to sharing further progress as soon as we are able next year."
The financial results showed an operating loss for the six months ended 30 September 2022 of £511,000 (H1 2021: £582,000 loss).
As announced alongside its full-year results on 2 September 2022, the company said it has entered into certain agreements, including inter alia, director's agreements to waive remuneration and a loan facility agreement with certain directors of up to £190,000 (current undrawn balance of £140,000).
These arrangements provide the company with sufficient cash runway to support its operations until Q4 2023, it added.
Incanthera is dedicated to improving treatment options with innovative therapeutics combined with targeted delivery technologies.