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Interim Results

PureTech loss widens on higher R&D spend

30 August 2017 08:30

PureTech Health made a loss of $67.3 million in the first half, compared with a loss of $43.5 million a year ago, due to higher spend of $35.4 million on research and development.

Revenue grew from $200,000 to $700,000.

The company's consolidated cash reserves at 30 June were $247.5 million, compared with $281.5m at 31 December 2016, of which $157.0 was held on a PureTech Health parent company level.

Stephen Muniz, chief operating officer and executive director of PureTech Health, said: "With $247.5 million in consolidated cash reserves at the period end, PureTech Health is well-positioned to fund the upcoming clinical trials and ongoing preclinical development. We have also successfully centralised many functions, driving synergies between the programmes and allowing us to support significant growth in our research and development related activities as we progress our pipeline."

At 8:30am: (LON:PRTC) PureTech Health Plc share price was +1.88p at 136.88p

Story provided by StockMarketWire.com

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