Antisoma: costs ups, cash down due to investment in cancer drugs pipeline

By Lisa Kerner

Charlotte, N.C., Oct. 16 - Antisoma plc reported cash and liquid resources of £14.9 million at June 30, compared with £25.0 million a year earlier, and a net loss of £16.9 million for the fiscal year ended June 30, up from a net loss of £6.7 million for fiscal 2005.

Antisoma's preliminary results for the fiscal year reflect the company's investment in its pipeline of cancer drugs, according to a company news release.

"This year has been our best to date for announcement of positive clinical data supporting our products. Going forward, we have a very clear focus on partnering AS1404 and advancing our products," chief executive officer Glyn Edwards said in the release.

Research and development costs increased to £16.6 million for the fiscal year from £12.3 million for the prior-year period. As a result, operating costs rose to £21.4 million for the year from £17.0 million for 2005.

During the year, the London-based biopharmaceutical company raised £6.55 million in a private placement.

Revenues decreased to £1.6 million from £6.3 million due to deferred upfront payments from Roche.

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