Futura Medical posts a net loss of £1.89 million for the six months to the end of June - down from a net loss £2.47 million a year ago and reflecting planned reduction in research and development expenditure.
Revenues rose to £66,900 - up from £16,141 - while R&D costs fell to £1,785,356 fro £2,480,175.
Chief executive James Barder said: "We continue to make good progress in the clinical and commercial development of our portfolio of product opportunities.
"This was highlighted last week with the announcement of positive clinical study results for MED2002. We are increasingly excited about MED2002's commercial potential as well as the first partner launch of CSD500 later in the year and the first pain relief out-licensing deal."
At 9:19am: (LON:FUM) Futura Medical PLC share price was +5.25p at 79p