Business
Interim Results
Interim Results.
About this update from Aura Renewable Acquisitions Plc
[{"type":"text","content":"\n Ardana PLC\n09 October 2007\n\n\n Ardana: Interim Results for the\n six months ended 30 September 2007\n\nArdana plc (LSE: ARA) the pharmaceutical company focused on improving human\nreproductive health, today announces its Interim Results for the six months\nended 30 September 2007.\n\n\nHighlights in the period\n\n\n • Teverelix Long Acting (LA)\n\n - Positive preliminary results of a further Phase II trial demonstrating\n extended duration of action in patients with prostate cancer\n\n - Licensing discussions are progressing well with several potential\n partners at different stages of negotiation. In addition, discussions \n have broadened with approaches from new parties interested in the \n opportunity following the recent Phase II results.\n\n • ARD-07, oral Growth Hormone Secretagogue (GHS)\n\n - Orphan Drug status granted by US Food and Drug Administration (FDA)\n\n - Commencement of pivotal registration study in the US for the\n diagnosis of growth hormone deficiency\n\n • Emselex(R)\n\n - Favourable assessment from the Scottish Medicines Consortium (SMC)\n which means that Emselex(R) is approved for use in NHS Scotland\n\n\nKey Financials\n\n\n • Total cash and cash equivalents at 30 September 2007 of £11.0 million (31\n March 2007: £16.6 million)\n\n • The development programme will be managed and scheduled in line with\n available funds. Outlicensing deals and/or financing will be required to\n support the company's development programme as currently planned over the\n next twelve months.\n\n • Loss before tax for the six months ended 30 September 2007 of £6.9 million\n (six months ended 30 September 2006: £5.5 million)\n\n\n\nPost period events\n\n\n\n • Dr Maureen Lindsay steps down as CEO\n\n • Dr Huw Jones is appointed CEO with immediate effect. Please see separate\n press release issued on 8 October 2007 for details.\n\n\n\nSimon Best, Chairman, commented 'The last six months have seen us make good\nprogress across all aspects of Ardana's business. We continue to discuss with\npotential partners an out-licensing deal for Teverelix LA. Concluding a deal\nthat will allow us to maintain the company's planned development programmes\nacross our range of products remains management's top priority. Our product\npipeline has continued to make progress in clinical development. During the\nlast six...