Arecor Therapeutics PLC - West Sussex, England-based commercial biotechnology company - Posts total income of £3.5 million for 2022, up from £1.8 million in 2021. This includes revenue of £2.4 million, up from £1.2 million. Pretax loss widens to £10.5 million from £6.9 million. Research & Development costs increase to £8.6 million from £5.4 million a year earlier. Sales, General & Administrative costs also rise to £5.5 million from £2.9 million. Looking forward, 2023 will build on the solid platform produced in 2022 and will be ‘a year of accelerated delivery across the key areas of our business’.

Chief Executive Officer Sarah Howell says: ‘2022 was a year of delivery and execution of our strategy. As clinical development of the two lead insulin candidates in our Diabetes franchise rapidly advances, 2023 should provide further evidence of their potential to enable a new frontier in diabetes management. We continue to build a strong pipeline of potential collaborations and future revenue opportunities to grow our portfolio of partnerships.’

Current stock price: 265.10 pence each, up 2.0% on Thursday afternoon in London

12-month change: down 32%

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