SLIGHT IMPROVEMENT FOR ALCHEMIA

SLIGHT IMPROVEMENT FOR ALCHEMIA

 ALCHEMIA Limited (ASX:ACL) has recorded a $5.5 million loss for the half year to December 2013, despite positive clinical trials in oncology overseas.

The drug development company’s loss is an improvement from $5.9 million at this time last year.

Total income dropped to $5 million, down from $9.4 million in the previous period, which included a $4.5 million research and development tax incentive income.

Over the six month period, ACL reduced operating expenses and administrative costs and significantly increased net cash balances from $6.1 million to $16.4 million.

As part of the company’s commercial agreement with Dr Reddy’s Laboratories, there was a $4.7 million profit share in fondaparinux medication in the US.

ACL will continue to treat metatastic colorectal cancer patients in its Phase III HA-Irinotecan clinical study.

Transpacific boosts profit. Read here.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

New report reveals 68 per cent of businesses are vulnerable to a cybersecurity attack

Partner Content
36 per cent of employees fear their organisation is at risk of financial losse...
SAI Global
Advertisement

Related Stories

Smartgroup shares plunge as suitor lowers takeover offer

Smartgroup shares plunge as suitor lowers takeover offer

Shares in Smartgroup (ASX: SIQ) have fallen back to where they were...

Go1 founders win Brisbane Young Entrepreneur of the Year Award after decade-long wait

Go1 founders win Brisbane Young Entrepreneur of the Year Award after decade-long wait

After their business became a unicorn amidst the ongoing expansion ...

Cardno shareholders to get a cut from $667m sale of international divisions

Cardno shareholders to get a cut from $667m sale of international divisions

Engineering and consulting group Cardno (ASX: CDD) has sold its US ...

Aurizon bulks up with $2.3 billion acquisition of One Rail Australia

Aurizon bulks up with $2.3 billion acquisition of One Rail Australia

Australia’s largest rail freight operator Aurizon (ASX: AZJ) ...