Brief: Benevolentai H1 Operating Loss At £55.3 Million

BenevolentAI SA

27/09/2022 06:25

Sept 27 (Reuters) - BenevolentAI SA  BAI.AS :
    * BENEVOLENTAI INTERIM RESULTS FOR SIX MONTHS ENDED 30 JUNE
2022
    * FULL DATA EXPECTED IN Q1 2023 FOR BEN-2293 PHASE IIA
CLINICAL
STUDY; A POTENTIAL TREATMENT FOR ATOPIC DERMATITIS AND A
TOPICAL, BEST-IN-CLASS PANTRK INHIBITOR
    * H1 OPERATING LOSS OF £55.3 MILLION (H1 2021: £46.5
MILLION) IN
LINE WITH INTERNAL EXPECTATIONS
    * H1 CASH AND CASH EQUIVALENTS OF £165.3 MILLION
    * H1 REVENUE OF £4.8 MILLION (H1 2021: £1.7 MILLION) DRIVEN
BY
EXTENDED ASTRAZENECA COLLABORATION
    * OUR PRIMARY FOCUS WILL BE TO INDEPENDENTLY PURSUE CLINICAL
DEVELOPMENT OF CERTAIN IN-HOUSE PIPELINE ASSETS IN A NUMBER OF
SELECTED CORE THERAPEUTIC AREAS
    * £177.9 MILLION GROSS PROCEEDS FROM SUCCESSFUL BUSINESS
COMBINATION AND LISTING ON EURONEXT AMSTERDAM COMPLETED APRIL
2022
    * WE WILL ENDEAVOUR TO ENTER ADDITIONAL STRATEGIC
COLLABORATIONS
TO LEVERAGE OUR DISEASE AGNOSTIC CAPABILITIES INTO THERAPEUTIC
INDICATIONS OUTSIDE OUR FOCUS AREAS
    * BENEVOLENTAI EXPECTS TO HAVE INITIATED 17 NAMED DRUG
PROGRAMMES
AND, IN 2023, EXPECTS TO ADD BETWEEN FOUR AND SIX NAMED DRUG
PROGRAMMES
    * WILL AIM TO PROGRESS ONE TO TWO CTA/IND-STAGE DRUG
CANDIDATES
EVERY YEAR, NOT INCLUDING ASSETS TAKEN FORWARD BY COLLABORATION
PARTNERS

Source text for Eikon:  ID:nBw5xmypWa 
Further company coverage:  BAI.AS 
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