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BSP Alumni news: Oxford Pharmascience Reports Bigger Losses As It Ups Investment
Oxford Pharmascience Group Plc announced bigger losses as it reported its unaudited interim results for the six months to 30 June 2014.
Highlights of the past year included positive results of a pilot clinical study to determine the extent of upper gastrointestinal irritation of the Company’s OXP001 400mg ibuprofen tablet compared with standard ibuprofen; the refocusing of activities to fine tune the release properties of their NSAID technology, and the creation of further opportunities to strengthen the Company’s intellectual property across the NSAIDs platform. The increased losses of £1.7m (2013 loss before tax: £0.6m), reflect the scale-up of the NSAIDs programme.
Marcelo Bravo, Chief Executive Officer, commented:
“We are pleased with the positive developments made during the first half of 2014 and subsequently, have seen the Company progress significantly with its gastric safe NSAIDs programme. The highlight of the period was the positive outcome of our first in-human pilot study with gastric safe taste masked ibuprofen and subsequent refocusing of activities to capitalise on the significant opportunities presented by this technology.”
For further information visit www.oxfordpharmascience.com