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Syntopix narrows FY loss

Monday, 29th November 2010
Medical researcher Syntopix Group plc narrowed its operating loss to 1.11m from 1.29m for the year to July 31 on the back of lower costs.

Revenue was 0.15m against the previous 0.19m.

Reported pre-tax loss fell to 1.10m from 1.26m.

Year-end cash balance rose to 1.74m from 0.89m. A placing of new shares raised 1.92m after expenses.

CEO Stephen Jones said the group had signed a number of commercial contracts during the period and clinical studies were currently under way for the most promising compounds.

'The board is confident that these studies will deliver convincing data for existing and potential partners, establishing that Syntopix's compounds have a commercial future in the treatment of dermatological and consumer healthcare conditions.'

Shares were up 1p at 52.5p.

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