Source - SMW
Oxford BioDynamics said its annual losses doubled following an increase in staff costs and expenses relating to its share market float.

The company booked a pre-tax loss of £4.03m, compared to a £2.07m loss a year earlier, despite revenue rising and R&D costs falling.

'The year to 30 September 2017 was a pivotal one for Oxford BioDynamics,' chief executive Christian Hoyer Millar said.

'Our successful IPO on AIM has provided additional resources to further invest in scientific and commercial progress.'

'We are pleased to have broadened our reach into the US and Asia, and to have entered into multiple agreements, including with five of the top 30 global pharmaceutical and biotech companies.'

'The grant of a US patent covering the EpiSwitch platform adds further strength to our global intellectual property position.'

At 9:59am: (LON:OBD) Oxford Biodynamics Plc share price was +1p at 189p