Business
Interim Results for six months ended 30 June 2023
Interim Results for six months ended 30 June 2023.
About this update from Arecor Therapeutics Plc
[{"type":"text","content":"\n\nArecor Therapeutics plc\n(\"Arecor\", the \"Company\" or the \"Group\")\n \nINTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2023\n \nStrong progress across proprietary portfolio and partnered revenue-generating collaborations\n \nCambridge, UK, 14 September 2023: Arecor Therapeutics plc (AIM: AREC), a globally focused biopharmaceutical company advancing today's therapies to enable healthier lives, today announces its interim results for the six months ended 30 June 2023.\n \nSarah Howell, Chief Executive Officer of Arecor, said: \"We have made further, strong progress across the business towards our ambition to transform patient care by enhancing existing therapeutic medicines and, in doing so, building a significant self-sustaining biopharmaceutical company.\n \n\"Our revenues increased by 141%, compared to 1H 22, and our belief in the growth potential of the business is reinforced by significant progress by our partners under license, as well as development progress across our in-house proprietary product portfolio. We have seen significant partnering traction with the first product incorporating the Arestat™ technology, AT220, progressing towards commercialisation, positive clinical and development advances from Inhibrx and Hikma, as well as the signing of new revenue-generating collaborations.\n \n\"Through the remainder of 2023 and into 2024, we expect key data from AT278, achievement of anticipated further partnering milestones and continued commercial traction for Ogluo®. We look forward, with confidence, to further material progress in the near- and medium-term towards our long-term ambitions for the Group.\"\n \nOperational highlights (including post period events)\n• AT278 - Second Phase I clinical trial of ultra-rapid acting, ultra-concentrated insulin in people with Type 2 diabetes ongoing, with good progress in recruitment following first patient dosing in March\n• AT247 - Phase I clinical data for ultra-rapid acting insulin delivered by continuous subcutaneous infusion over three days via an insulin pump, reinforcing potential to enable a fully closed loop artificial pancreas system, presented at American Diabetes Association (ADA) 83rd Scientific Sessions meeting in June\n• AT307 - the specialty hospital...