Source - Alliance News

SkinBioTherapeutics PLC - skin health-focused life sciences firm - Says interim revenue jumps to £76,985 in the six months to December 31, from £21,949 a year before. Pretax loss widens to £1.4 million from £1.2 million, as operational costs climb to £918,103 from £764,750. In 2023, says focus is on reaching commercial traction with Croda, launching AxisBiotix-Ps into Europe, developing an acne product, among others targets.

Chief Executive Officer Stuart Ashman says: ‘Our priority focus for the first half of [financial 2023] is to drive forward new product development and sales in AxisBiotix, with the ultimate goal being a partnership opportunity with a multinational, along with the continued progression of work with Croda and the research programmes with Manchester University and the pursuit of an accretive acquisition opportunity that could bring solid sales revenue.’

Current stock price: 12.64 pence each, down 14% on Tuesday around midday in London

12-month change: down 72%

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