Arecor Therapeutics PLC (AIM:AREC) said it is confident about the potential of its next-generation insulin portfolio, especially AT278, an ultra-concentrated, ultra-rapid-acting insulin.
In an update on trading, the company told investors it is in advanced talks for a co-development deal to use AT278 in next-generation insulin pumps.
Early trial results suggest it could improve diabetes management, particularly for people with a high body mass index.
Arecor is also working on an oral version of GLP-1, a class of treatment for diabetes that has gained massive traction in weight loss.
The company aims to improve its bioavailability compared to the only oral GLP-1 on the market, Rybelsus. Non-clinical data is expected in the first half of 2025.
CEO Sarah Howell said: "We are particularly excited by the prospects of AT278, our unique ultra-concentrated, ultra-rapid acting insulin and also our prospects of developing a game-changing technology platform for the oral delivery of peptides, on the back of early initial positive data.
"We are well positioned for future success and remain confident in our prospects having now streamlined our focus to fully pursue opportunities for Arecor that drive significant value creation for shareholders."
For the year ending December 31, Arecor reported revenue of £5.1 million, up from £4.6 million in 2023. Cash reserves stood at £3.3 million.
In January, Arecor decided to close Tetris Pharma and return the rights to Ogluo, a glucagon auto-injector for severe hypoglycaemia, to Xeris BioPharma. Tetris Pharma made £3.4 million in sales in 2024 and will continue selling its remaining stock until the second half of 2025.