Business
Full Year Results for the year ended 31 Dec 2018
Full Year Results for the year ended 31 Dec 2018.
About this update from Emv Capital Plc
[{"type":"text","content":"\n \nRNS Number : 7708Z NetScientific PLC 22 May 2019 \n\n \nNetScientific plc\n \n(\"NetScientific\" or the \"Group\")\n \nNetScientific Full Year Results for the year ended 31 December 2018\n \nLondon, UK - 22 May 2019 - NetScientific plc (AIM: NSCI), the transatlantic healthcare IP commercialisation Group, announces its full year audited results for the year ended 31 December 2018[1].\n \nFinancial highlights (including post-period end highlights)\n \n· Loss for the year from continuing operations of £4.0 million (2017: loss £4.2 million) reflects ongoing investment in portfolio companies;\n· Loss from discontinued operations for the year, due to the sale of Vortex and Wanda in March 2019, of £5.4m (2017: £5.2m);\n· Cash used in operations reduced to £8.4 million (2017: £10.7 million) due to continued development and operating expenses in the subsidiaries mitigated by lower head office costs;\n· The Group raised net funds of £4.6 million in April 2018 from a placing of 9,523,809 shares;\n· Cash from continuing operations of £2.9 million (2017: £6.9 million);\n· Group cash at 30 April 2019 stands at £3.0m of which £1.7m held in the Company, giving cash to operate until the end of 2020.\n \nOperational highlights (including post-period end highlights)\n \nPortfolio progress:\n \nProAxsis Ltd (\"ProAxsis\")\no NEATstik® \n§ Registered CE Mark and launch of NEATstik® for measuring active neutrophil elastase\n§ New data presented at the annual American Thoracic Society (ATS) conference\no ProteaseTag® Active Plasmin Immunoassay\n§ Registered CE Mark and launched for application across a broad range of diseases including lung disorders such as idiopathic pulmonary fibrosis (IPF) and acute respiratory distress syndrome (ARDS) \n§ Invest Northern Ireland grant to identify and quantify active protease biomarkers in £0.2 million project\no Both products selected for inclusion in the major BRIDGE clinical study funded by the European Respiratory Society (ERS)\n \nGlycotest, Inc. (\"Glycotest\")\no Positive clinical results from clinical evaluation of HCC Pan...