REG - Ovoca Bio PLC - Half-year Report

Ovoca BioAnnouncement

25/09/2024 07:00

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RNS Number : 4888F  Ovoca Bio PLC  25 September 2024

Ovoca Bio plc

 

("Ovoca" or the "Company")

 

Interim Results for the six months ended 30 June 2024

 

Dublin, Ireland, 25 September 2024 - Ovoca Bio, a biopharmaceutical company
with a focus on women's health, is pleased to announce its interim financial
statements and report covering the six-months ending 30 June 2024.

Please click on the following link to view the full Half Year Report:

http://www.rns-pdf.londonstockexchange.com/rns/4888F_1-2024-9-24.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/4888F_1-2024-9-24.pdf)

 

CEO Statement

Today we have published Ovoca's financial statements covering the six-month
period to the end of June 2024, which I encourage all stakeholders to read.
During the period, our Company has maintained the financial resources to
assist in a smooth transition to a new phase in corporate development after
last year's disappointing top-line results from the Phase II dose ranging
study assessing Orenetide conducted in Australia and New Zealand, which the
Company announced on 31 August 2023. During the first half of the year we
continued to take steps to optimize our corporate structure and patent
portfolio and, post period end, we announced the entry into arrangements to
further assist in the resolution of legacy issues following the disposal of
certain Russian assets by the Company in 2023. As of June 30, 2024 the Company
was awaiting to receive certain cash refunds (of approximately A$0.65m) from
the Australian authorities regarding expenditure made for the Orenetide Phase
II trials. These refunds, and last payments to Australian service providers,
are expected to be completed in Q4 2024.

As at 30 June 2024, the Company had cash and cash equivalents amounting to
€2.9 million ($3.1 million) and we will continue to carefully manage our
financial resources.

The Company's focus presently is reviewing new opportunities and we will keep
shareholders updated with relevant updates as appropriate. In the meantime, I
would like to thank the management team of the Company and the Board of
Directors for their support.

 

End

 

For further information:

 

Ovoca Bio plc

Tim McCutcheon (Chief Executive Officer)

Tel +353 1 661 9819

info@ovocabio.com

 

Davy (Nominated Adviser, Euronext Growth Listing Sponsor and Broker)

Ivan Murphy / Daragh O'Reilly

Tel: +353 1 679 6363

 

 

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