Tiziana Life Sciences Ltd (NASDAQ:TLSA) highlighted milestones from the first six months of 2022 as the company advances its pipeline of next-generation therapeutics and diagnostics for oncology and immune diseases of high unmet demand.
In its interim results for the six months to June 30, 2022, the company’s R&D expenses increased from $5.6 million in the first half of 2021 to $7.5 million which it attributed to the advancement of Tiziana’s proprietary programs TZLS-401 and TZLS-501.
The group reported a loss of $8.3 million for the period, compared to $17 million for the same six months in 2021.
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The company said it continues to carefully manage its working capital position and continues the process to evaluate opportunities to raise further funds through the issue of additional equity capital. The group ended the period with $26.5 million cash as of 30 June 2022 (31 December 2021: $42.2 million).
Highlights from its clinical and non-clinical programs during the period included US Food and Drug Administration (FDA) approval for enrollment of a second, Secondary Progressive Multiple Sclerosis patient under the Individual Patient Expanded Access (EA) Program following favorable clinical results after six months of treatment of the first patient in the EA program, and the initiation of a Phase 1b clinical trial in Crohn’s disease patients to evaluate oral capsules of foralumab, a fully human anti-cd3 monoclonal antibody.
The company’s full interim results can be found here.
Tiziana Life Sciences is a clinical-stage biopharmaceutical company developing breakthrough immunomodulation therapies via novel routes of drug delivery.
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