Source - SMW
Vernalis has widened its FY post-exceptionals pretax loss to £15.3m, from a year-earlier loss of £3.7m.

Revenue was lower at £12.0m, from £13.7m.

"The last twelve months have seen a major transformation in our business as we launched the first product from our cough cold franchise, Tuzistra XR, into the US market," said CEO Ian Garland in a statement. 

"We have made a significant investment in our commercial infrastructure to support the launch of Tuzistra XR, and this will continue during the product's launch phase as we seek to gain a greater share of the US cough cold market. 

"We will leverage this investment and our US commercial infrastructure to launch the once-a-day antibiotic, Moxatag in the second half of 2016. The cough cold pipeline continues to mature with CCP-07 and CCP-08 on track for potential approvals in 2017.

"Our cash position was bolstered following the recent equity raise to continue the promotional investment in Tuzistra XR as well as launch Moxatag and our additional products, CCP-07 and CCP-08 in the near term. We remain very excited about the growth potential of the business."

At 9:27am: (LON:VER) Vernalis PLC share price was -3.62p at 40.88p