Business
Financial Results for Year Ended 31 December 2019
Financial Results for Year Ended 31 December 2019.
About this update from Eden Research Plc
[{"type":"text","content":"\n \n \n RNS Number : 1952M\n Eden Research plc\n 07 May 2020\n \n \n \n \n This 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 \n \n \n \n Eden Research Plc\n \n \n (\"Eden\" or \"Company\")\n \n \n \n \n \n Financial Results for Year Ended 31 December 2019\n \n \n \n \n \n Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides for use in global crop protection, animal health and consumer products industries, announces its preliminary results for the year ended 31 December 2019.\n \n \n \n \n \n Financial highlights\n \n \n \n \n · Revenue of £2.0m (2018: £2.8m)\n · Operating loss of £1.4m (2018: £0.5m)\n · Loss before tax of £1.5m (2018: £0.5m)\n · Loss per share of 0.54p (2018: 0.16p)\n · Net cash of £0.5m (2018: £2.5m); net cash of £9.3m as at 4 May 2020\n · Product sales increased 3% to £1.7m (2018: £1.6m)\n · Upfront and milestone payments of £0.4m (2018: £1.2m)\n \n \n \n \n Commercial and operational highlights:\n \n \n \n \n ·Eden's post-planting nematicide product, Cedroz™, received zonal authorisation under the EU process for the registration of plant protection products in April 2019. Malta, acting as zonal Rapporteur Member State, granted its authorisation at the zonal level covering both the Southern EU zone and the indoor zone, which is pan-European. This is the first stage in receiving full authorisations by the relevant member states.\n \n \n \n · Sales of Cedroz commenced in Italy following the grant of emergency use authorisation in April 2019. In Italy, Cedroz™ is being used primarily on bell peppers, tomatoes, and melons to reduce gall damage caused by root knot nematodes and has increased total crop yield for farmers in the region. Emergency authorisation allows Eastman to launch Cedroz into the important Italian market and gain commercial-use experience with the product supporting accelerated sales development following the receipt of full authorisation.\n \n \n \n · In October 2019, Eastman Chemical Company received full authorisation for Cedroz™ from the Belgian Ministry of Agriculture to be used on a wide range of crops including cucumbers...