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Motif Bio settles with contract research group

The deal will see the an accounting reversal of a previously recognised expense

Motif Bio PLC -
It marks a small win for Motif, which is undergoing a restructuring

Motif Bio PLC has confirmed it won’t have to pay US$2.4mln listed in the last full accounts as outstanding to a contract research group following a settlement with the firm.

The deal will see the accounting reversal of a previously recognised expense and the reduction of US subsidiary Motif BioSciences Inc's trade payables and accruals in the amount above.

It marks a small win for Motif, which is undergoing a restructuring that will result in the sale of its lead drug, an antibiotic called iclaprim.

Quick facts: Motif Bio PLC

Price: 0.265 GBX

AIM:MTFB
Market: AIM
Market Cap: £1.29 m
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