Biopesticide products maker Eden Research said it expected annual losses to more than doubled, in line with expectations, as revenue fell amid unfavourable growing conditions in the Southern EU. For the year ended 31 December 2019, revenue was expected to be about £2.0m, down from £2.8m last year, with a pre-tax loss of about £1.4m, in line with market expectations, but wider than the last year's £0.5m. The majority of the £2.0m of revenue was derived from product sales of £1.7m, compared with £1.6m last year, despite 'unfavourable growing conditions in the Southern EU, and upfront payments making up the balance,' the company said. Edemn received its first marketing authorisations for Cedroz, its second commercial product, a nematicide, marketed by Eastman Chemical in Malta, Belgium and Mexico. The biopesticide company also signed distribution agreements for its first commercial product, a fungicide marketed as Mevalone, with Sipcam Oxon. Looking forward, Eden expected to be able to announce further marketing authorisations for both Mevalone and Cedroz as well as progress with existing and new partners in areas such as seed treatments, insecticides and other applications. At 8:51am: (LON:EDEN) Eden Research plc share price was -0.98p at 8.63p
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