Business
Financial Results for Year Ended 31 December 2018
Financial Results for Year Ended 31 December 2018.
About this update from Eden Research Plc
[{"type":"text","content":"\n \nRNS Number : 7602U Eden Research plc 02 April 2019 \n\nThis announcement contains information which, prior to its disclosure, was considered inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).\n \n \nEden Research Plc\n(\"Eden\" or \"Company\")\n \nFinancial Results for Year Ended 31 December 2018\n \nEden Research plc (AIM: EDEN), the AIM listed company that provides breakthrough natural microencapsulation technologies to the global agrochemicals, animal health and consumer products industries, announces its preliminary results for the year ended 31 December 2018.\n \nFinancial highlights: \n· Revenue of £2.8m (2017: £1.9m)\n· Operating loss of £0.5m (2017: £0.8m)\n· Loss before tax of £0.5m (2017: £0.8m)\n· Loss per share of 0.16p (2017: 0.33p)\n· Net cash of £2.5m (2017: £3.7m)\n· Operating profit, before non-cash items (share-based payment charge and amortisation), and one-time items (licence renewal fee and royalties refund) of £0.02m (2017: loss £0.4m)\n· Product sales increased 112% to £1.6m (2017: £0.8m)\n· Upfront and milestone payments of £1.2m (2017: £1.1m)\n \nCommercial highlights:\n· Multiple distribution agreements signed with Sipcam SpA (\"Sipcam\") for Mevalone in ten new territories, for which a fee of €0.9m (£0.8m) was paid to Eden\n· Exclusive distribution agreement signed with Sipcam for its fungicide product Novellus to be sold in Australia and New Zealand \n· Successful positioning of Mevalone as an early-season treatment contributing to product sales growth of 112%\n· A healthy pipeline of collaborations progressing with majors in Eden's distributor network \n \nOperational highlights:\n· Lykele van der Broek, former COO of Bayer Crop Science and former Head of the Animal Health division of Bayer Health Care, appointed as Chairman with effect from 1 January 2018\n· Regulatory applications submitted in new countries for Mevalone and Cedroz, including the US which is ...