Business
Replacement Half-year Report
Replacement Half-year Report.
About this update from Skinbiotherapeutics Plc
[{"type":"text","content":"\n \n \n The 'Half-year Report' announcement for SkinBioTherapeuticsc PLC released on 28 March 2023 at 0700 under RNS No 3831U has been re-released to correct comparative date of cash balance - restating as at 31 December 2021 from 30 June 2022.\n \n \n The announcement is unchanged otherwise and is reproduced in full below.\n \n \n \n \n \n \n SkinBioTherapeutics plc\n \n \n \n \n Half year consolidated results\n \n \n \n \n \n \n \n \n \n \n Newcastle, UK - 28 March 2023\n \n \n -\n \n SkinBioTherapeutics plc (AIM: SBTX or the \"Group\") a life sciences company focused on skin health,\n announces its unaudited half year consolidated results for the six months to 31 December 2022.\n \n \n \n Operational and financial highlights\n \n \n \n ·\n Good progress with the ongoing commercialisation of probiotic food supplement, AxisBiotix-Ps™ in the UK\n \n \n o \n Revenues increased consistently month on month and at period end, totalled £77k (H1 FY22: £22k)\n \n \n o \n Retention rates at 80%+ of month end subscribers\n \n \n o \n Post year end, health authority approval received for launch in Spain from 13 March; entry into other European markets, Italy and France, is anticipated during 2023\n \n \n ·\n Croda/Sederma project continues to progress with further potential claims being investigated\n \n \n o \n Exploring in-human studies to further validate potential additional claims\n \n \n o \n Successful scale-up of manufacturing to 600 litres and testing of scale-up to 20,000 litres as previously announced\n \n \n o \n Further formal discussions to commence regarding applications of other areas of SkinBioTherapeutics' technology\n \n \n ·\n Currently developing a stabilised bacterial blend for acne and working with formulation partners to develop an end product for consumer study in H2 2023\n \n \n ·\n Research programmes with the University of Manchester are progressing\n \n \n o \n Skin health and disease research programme - feasibility study outcome expected during 2023\n \n \n o \n Oral health and wellbeing - positive early indications; programme extended into next phase (formulation) with data anticipated in 2024 as previously announced\n \n \n ·\n Inorganic growth strategy: management remains actively engaged with due diligence ongoing.\n \n \n ·\n Cash as of 31 Decem...