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Catenae Innovation reported narrower losses on lower costs, but revenue slumped as uptake of the company's product fell short of expectations.
For the 12 months ended 30 September 2020, pre-tax losses narrowed to £769,186 from £941,096, while revenue slumped to £14,948 from £105,549.
'Despite a number of leads and paid-for trials during the period under review, unfortunately the uptake of our product did not meet the Board's anticipations as the marketplace was largely defined by government lockdown restrictions,' the company said.