Arecor Therapeutics PLC (AIM:AREC) said it is well-placed to advance its pipeline following the £20mln capital raise on its IPO.
The pharma group is planning further clinical trials for its lead products, including the expected completion of a US Phase I clinical trial for ultra-rapid acting insulin AT247.
READ: Arecor Therapeutics' rapid insulin shows significant promise in early-stage clinical trial
Earlier this week it unveiled positive results from Phase I clinical trial for AT278, an ultra-concentrated ultra-rapid acting insulin, showing better results than the widely marketed NovoRapid.
The AIM-listed group has also secured three new technology partnership collaborations with Lilly, Par and Intas, for its Arestat technology platform.
In the six months ended 30 June, revenue came in at £500,000 from £800,000 the year before, with loss after tax of £3mln from £1mln in 2020.
Investment in R&D was £1.9mln, with cash and cash equivalents sitting at £22mln at period-end.