Sareum Holdings PLC on Wednesday reported an increased half-year loss for the six months to December 31, as it continued to work on its psorasis candidate drug SDC-1801.
The Cambridge-based biotechnology company developing kinase inhibitors for autoimmune disease and cancer said interim pretax loss widened 70% to £1.7 million from £1.0 million a year prior, while it does not yet generate revenue.
The company reiterated that it submitted an application to conduct a phase 1 clinical trial on its psoriasis drug SDC-1801 in Australia, which it hopes to begin dosing as soon as possible this year. SDC-1801 is a TYK2/JAK1 inhibitor being developed as a potential new therapeutic for a range of autoimmune diseases, with an initial focus on psoriasis, an autoimmune condition affecting the skin.
Sareum Holdings shares fell 3.3% to 87.00 pence each on Wednesday morning in London.
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