Business
Full year results
Full year results.
About this update from Skinbiotherapeutics Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9429T\n SkinBioTherapeutics PLC\n 30 November 2021\n \n \n \n \n SkinBioTherapeutics plc\n \n \n (\"SkinBioTherapeutics\" or \"the Group\")\n \n \n Full year results\n \n \n Notice of AGM\n \n \n \n \n \n \n 30 November 2021 - \n \n SkinBioTherapeutics plc (AIM: SBTX), a life science business focused on skin health, announces its full year audited results for the year to 30 June 2021. \n \n \n Key highlights\n \n \n · \n Formulation blend of probiotic food supplement, AxisBiotix-Ps™, produced ahead of schedule\n \n \n · \n Completion of consumer study of AxisBiotix-Ps™ with strong final results from participants who self-identified as having mild to moderate psoriasis\n \n \n · \n Croda-SkinBiotix\n ®\n programme continued to progress to plan, with focus on scaling up lysate manufacture to commercial volumes\n \n \n · \n Potential additional cosmetic claims for SkinBiotix\n ® being investigated. Initial royalty revenues anticipated as planned in calendar year 2022\n \n \n · \n Placing and open offer completed in November 2020 raising £4.45m (gross)\n \n \n · \n Cash as at 30 June 2021 of £4.6m (2020: £2.2m)\n \n \n \n \n \n Post year end: \n \n \n ·\n Successful product launch of AxisBiotix-Ps™ 12 months earlier than intended. Early sales in the UK and US have commenced; expansion into Europe to occur in H1 2022\n \n \n · \n Targeting acne as the next AxisBiotix opportunity; plans to develop a bacterial blend and initiate a consumer study during 2022\n \n \n \n \n \n Stuart Ashman, CEO of SkinBioTherapeutics, said:\n \n \n \"2021 has been a landmark year for SkinBioTherapeutics. We have transformed ourselves from a research and product development business, to a commercial one. \n \n \n \n \"We successfully completed the AxisBiotix-Ps™ consumer study, receiving an overwhelmingly positive response from participants, and we continued to make good progress on our SkinBiotix\n \n ®\n \n programme with Croda despite challenges from the global pandemic. The high point of the calendar year, post year end, has been the launch of AxisBiotix-Ps™ and our first sales to psoriasis sufferers.\"\n \n \n \n \n \n \n The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 and has been ...