Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Cancer therapy development group ValiRx booked a full-year loss as it continued to spend money developing and proving up its treatment candidates.
Pre-tax losses for the year through December amounted to £4.8m, compared to losses of £3.6m on-year.
The company is advancing clinical trails of VAL201 to treat prostate cancer and is in the pre-clinical stage for other treatments.
'Given the risk-averse funding climate in the reporting period, we sustained momentum in terms of adding value to our assets by advancing VAL201 in the UCLH prostate cancer clinical trial and progressing the pre-clinical advancements of the VAL101 and VAL301 compounds, to bring these closer to the Phase I ready stage,' chairman Oliver de Giorgio-Miller said.
'We are also pleased to report post period, that ValiSeek has secured a robust solution and strategy for the advancement of VAL401 and that it has agreed letters of intent with two partners to progress VAL401 into its next proposed clinical trial.'