Source - Alliance News

Redx Pharma PLC - Macclesfield, England-based clinical-stage biotechnology company focused on the treatment of cancer and fibrotic disease - In the half year ended March 31, pretax loss narrows to £9.7 million from £12.7 million year-on-year. Revenue multiplies to £8.4 million from £2.1million. Reports strong progress across its pipeline, especially its lead oncology asset RXC004 moving into phase II clinical trials, and its lead fibrosis asset, RXC007, reporting ‘encouraging’ phase I safety data. Says its Rock inhibitor RXC008 has the potential to become a first-in-class treatment for fibrostenotic Crohn's disease, and is likely to be ready to enter the clinic by the end of next year.

‘[These developments] ensure that we are positioned at the forefront of potential clinical developments for hard-to-treat diseases with high unmet need, and supports our ambition of submitting three new wholly-owned [investigational new drugs] by 2025,’ says Chief Executive Officer Lisa Anson.

Current stock price: 63.74 pence, down 0.4% on Thursday

12-month change: up 2.0%

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