Drug discoverer e-Therapeutics plc (LON:ETX) remains well funded and focused on commercialisation of compounds created by its proprietary drug discovery platform, it will tell an AGM today.
The two most advanced discovery compounds are approaching lead candidate selection with the expectation that the most advanced will enter preclinical development in the coming months, the group said.
Chairman Iain Ross added: "Last summer we signalled the initiation of discovery activities in immunotherapy and I am pleased to confirm that our programme now covers four active projects including checkpoint inhibition, tryptophan catabolism and selective cytokine modulation.
"Elsewhere, we are encouraged by the progress and scope of our antiviral programme.
"As discussed in the recent preliminary results, the orderly closure of the phase Ib trial of our cancer programme, ETS2101, has commenced and this process is anticipated to be completed by the end of the current financial year."
He added: "We remain focused on the commercial validation of our proprietary drug discovery platform. The company remains well funded, our last reported cash balance was £24.8m, and we anticipate receiving a R&D tax credit of £2.5m in the short term." Read more here..
Shares in the firm gained 5.66% to 14p each in early deals.