MoneyAM MoneyAM
 Home   Log In   Register   Our Services   My Account   Contact   Help 
 Stockwatch   Level 2   Portfolio   Charts   Research   Share Price   Awards   Indices   Market Scan   Company Zone   Traders' Room 
 Funds   Trades   Terminal   Alerts   Heatmaps   News   Stock Screener   Forward Diary   Forex Prices   Director Deals   Investors' Room 
 CFDs   Shares   SIPPs   ISAs   Forex   ETFs   Videos   Comparison Tables   Spread Betting   Broker Notes   Shares Magazine 
You are NOT currently logged in

Filter Criteria  
Epic: Keywords: 
From: Time:  (hh:mm) RNS:  MonAM: 
To: Time:  (hh:mm)
Please Note - Streaming News is only available to subscribers to the Active Level and above

Oncimmune reports H1 pretax loss as costs soar

Oncimmune reported a pretax loss to £2.8m for the six months to 30 November 2017, from a year-earlier loss of £2.5m while revenue for the period was just £77,000, down from £114,000.

The wider pre-tax loss came as cost of sales soared more than 400% to £444,000 from just £109,000 a year ago amid an increase in the cost of kit samples provided to distributors and a general increase in the operating cost of the US central laboratory.

Geoffrey Hamilton-Fairley, CEO of Oncimmune, said: 'Oncimmune continues to make excellent progress in delivering on the potential of our platform to detect up to four years earlier than other methods based on a simple, robust, blood test - a liquid biopsy.'

'We have recently entered an exclusive distribution and product development agreement in China which includes a £10m equity investment and £15.7m in minimum royalties. We have now secured agreements for 12 countries with minimum sales commitments of £25.6m.'

'We have also entered a preliminary distribution partnership with a major US pulmonology salesforce which is progressing well and, if successful, should lead to a significant distribution agreement focused on the risk detection of indeterminate pulmonary nodules - a large and growing market.'

Story provided by