Business
Half-Yearly Results for December 2015
Half-Yearly Results for December 2015.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 9261P Sareum Holdings PLC 24 February 2016 \n\n\n\n\n\n(AIM:SAR)\n\n\n 24 February 2016\n\n\n\n\nSAREUM HOLDINGS PLC\n(\"Sareum\" or \"the Company\")\nHALF-YEARLY RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2015\nSareum Holdings plc (AIM: SAR), the specialist cancer drug discovery and development business, announces good progress with its cancer and autoimmune disease research programmes and its half-yearly results for the six months ended 31 December 2015.\nOperational highlights\n· Completion of preclinical studies for the CHK1 clinical development candidate, in preparation for two planned clinical trials in cancer patients.\n· Publication of a description of CCT245737, the CHK1 clinical development candidate, in the high-impact journal, Oncotarget.\n· US and European Patents granted for discoveries that underpin the Aurora+FLT3 Kinase Inhibitors programme.\n· Demonstration of effective reduction of symptoms when the TYK2 lead molecule is administered in a disease model of rheumatoid arthritis.\nFinancial highlights\n· Loss on ordinary activities (after taxation) of £485,000 (2014: Loss of £659,000), in line with expectations.\n· Cash at the Company's bank at period end was £335,000 (2014: £429,000) and the Company's unspent investment in the CHK1 Project was £841,000 (2014: £447,000).\nPost period end\n· CHK1 Clinical Trials Application (CTA) submissions on 29 January 2016, triggering a £200,000 milestone payment to Sareum.\nDr Tim Mitchell, CEO of Sareum Holdings plc, said: \"We have made considerable progress in the last six months. With clinical trials for the CHK1 programme expected to start before our financial year end, we are swiftly moving towards our goal of becoming a clinical-stage development company.\"\n \n\n\n\n\nSareum Holdings plc\n\n\n \n\n\n\n\nTim Mitchell, Chief Executive Officer\n\n\n01223 497 700\n\n\n\n\nWH Ireland Limited (Nominated Adviser and Co-Broker)\n\n\n \n\n\n\n\nChris Fielding / Nick Prowting\n\n\n020 7220 1650\n\n\n\n\nHybridan LLP (Co-Broker)\n\n\n \n\n\n\n\nClaire Noyce / William Lynne\n\n\n020 3764 2341 / 2342...