Source - SMW
Oncimmune posted a narrower annual loss at it continues to develop and market its early cancer-detection technology.

The company booked a net loss of £4.8m, narrowing from loss of £8.4m in the previous corresponding period that included finance costs on derivative liabilities.

Revenue halved to £215,000 from £430,000.

"We continue to make excellent progress towards our goal of building a pioneering early cancer detection platform which can generate revenues across multiple products, regions and with different partners," chief executive Geoffrey Hamilton-Fairley said. 

"Gaining CE mark for the EarlyCDT-Lung kit was a key milestone and we have already seen its impact with partnerships in Asia and Europe."

"With a strong team in place, a fundraising completed and our R&D progressing well the board is increasingly confident that the company is well placed to execute that plan and deliver value in the medium and long term."