Oncimmune losses deepen on higher R&D and administrative spending
Source - SMW
Immunodiagnostics system supplier Oncimmune Holdings said its annual losses deepened as it increased R&D spending.
Pre-tax losses for the year through November amounted to £3.9m, compared to losses of £2.8m on-year.
R&D spending rose to £0.7m, from £0.5m, while administrative expenses also rose.
Revenue nudged up to £121k, from £77k).
'Aligned with the forward strategy, and with the support of Oncimmune's new Scientific Board, our R&D programme has been focused on exploring the potential of tumour-related antibodies as combined and complementary diagnostic tests,' chief executive Adam Hill said.
'Our commercial effort has concentrated on developing propositions for the diagnostic and pharmaceutical industry to maximise the latent potential of Oncimmune's immunogenic protein platform.'
At 8:26am: (LON:ONC) Oncimmune Holdings Plc share price was -8p at 88.5p