Business
Half Year Results
Half Year Results.
About this update from Skinbiotherapeutics Plc
[{"type":"text","content":"\n \n \n RNS Number : 7630E\n SkinBioTherapeutics PLC\n 03 March 2020\n \n \n \n \n SkinBioTherapeutics\n plc\n \n \n \n \n \n Half year results \n \n \n \n \n \n \n Manchester, UK -\n \n \n 03 March 2020 -\n \n \n SkinBioTherapeutics plc (AIM: SBTX or the \"Company\") a life sciences company focused on skin health,\n announces its unaudited half year results for the six months to 31 December 2019.\n \n \n \n \n \n Operational and financial highlights\n \n \n · \n New strategy presented to shareholders, defining five pillars of development and commercial focus\n \n \n ·\n Signed first commercial agreement in November 2019, with Croda International Plc (\"Croda\"), using SkinBiotix\n ®\n as the foundation of an active skincare ingredient\n \n \n · \n Post period end, signed a development agreement around the skin-gut axis with Winclove Probiotics B.V. (\"Winclove\") to create a specialist probiotic food supplement targeting psoriasis\n \n \n · \n Loss from operations of £889k (H1 2018: £632k) with increase due to R&D and operating expenditure\n \n \n · \n Cash as at 31 December 2019 £2.5m (30 June 2019: £3.1m), in line with management's expectations\n \n \n \n \n \n Stuart Ashman, CEO of SkinBioTherapeutics, said:\n \n \n \n \"The first half of the year has been focused on refining and starting to deliver on our strategy to commercialise the SkinBiotix\n \n ® technology. The five pillars of the strategy comprise SkinBiotix®, AxisBiotix™, MediBiotix™, CleanBiotix™ and PharmaBiotix™ demonstrating our belief in the applicability of our technology.\n \n \n \n \n \n \n \"From talks initiated by Prof. Cath O'Neill, we have concluded agreements around two of the pillars already - SkinBiotix\n \n ® and AxisBiotix™ - with Croda and Winclove respectively. Both companies are specialists in their fields and we believe both deals offer good growth and value opportunities to the Company, whilst aligning with our current cash position and timeline.\n \n \n \n \n \n \"As we integrate these initial agreements into our day to day working practices, we continue to seek other commercial partners as well as furthering the scientific base behind our technology.\"\n \n \n \n \n \n \n \n \n The information communicated within this announcement is deemed to constitute inside information as s...