TSP Advanced Technologies PLC on Tuesday reported a narrowed interim loss as it ‘prudently’ managed costs while searching for a funding solution.
Formerly known as TruSpine Technologies, TSP is a London Gatwick Airport-based medical device company focused on the spinal fusion market.
Pretax loss narrowed to £334,800 for the six months ended September 30 from £409,626 a year ago.
This was largely due to administrative expenses decreasing 18% to £334,166 from £409,530.
No revenue was generated in the period, unchanged from a year ago, as the company remains in the pre-revenue development phase.
TSP said it is reviewing equity and debt funding options to find a funding solution, noting that until that point its working capital position will remain ‘constrained’.
‘The company continues to manage its limited working capital prudently,’ it said.
Looking ahead to 2026, TSP added: ‘Once funding has been secured, the board expects that 2026 may deliver further updates on progress with the regulatory approval pathway, and subject to regulatory approval, on the subsequent commercialisation of the company’s intellectual property, where a number of options are being actively considered.’
Shares in Aquis-listed TSP stood at 0.50 pence on Tuesday morning in London.
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