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.
Pharmaceutical services company Open Orphan booked a full-year loss and said it was looking to sell non-core assets.
Pre-tax losses for the year through December amounted to €6.6m, compared to losses of €1.7m for the period running between 18 July, 2017 and 31 December, 2018.
The company booked revenue of €4.0m, which was more than offset by project and administration costs.
Open Orphan said a strategic review was underway to seek to monetise its 49% stake in Imutex and our other non-core investments, such as a 62.5% stake in PrEP Biopharm.
A further €2.5m of cost was set to be removed from the business in the second half of 2020.
The company said it was eyeing 'unprecedented' growth opportunities as pharma focused funding on Covid-19 and respiratory diseases, presenting opportunities for the company's Covid-19 and non-Covid-19 challenge studies.
At 2:15pm: (LON:ORPH) share price was +0.13p at 12.13p