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REG - Trellus Health PLC - Interim results

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RNS Number : 3047Y  Trellus Health PLC  08 September 2025

 

Trellus Health plc

("Trellus Health", the "Company" or the "Group")

 

Interim results

 

LONDON, U.K. AND NEW YORK, U.S. (8 September 2025). Trellus Health® plc (AIM:
TRLS), a healthcare company delivering Trellus Elevate®, a digital platform
that integrates data analytics with personalised, scientifically proven
resilience programs and value-based solutions to manage complex chronic
conditions, announces its unaudited interim results for the six months ended
30 June 2025.

 

Trellus Health® works across the following key commercial verticals:
pharmaceutical patient support programs, clinical trial patient recruitment
and retention services, and the U.S. health plan sector. 

 

Operational highlights (including post-period end)

·    Milestone agreement signed with Johnson & Johnson Health Care
Systems Inc in January 2025

·    Granted preferred vendor status by a leading global Contract Research
Organisation ('CRO') in June 2025

·    Renewed Pfizer licensing agreement for IBD digital patient support
content in May 2025

 

Financial highlights

·    Net cash of $1.6m at 30 June 2025 (31 December 2024: $4.3m), with the
Company's cash runway extending into early November 2025

·    Average monthly burn further decreased by additional c.10% to $440k
per month since 1 August 2025

·    Adjusted EBITDA* loss of $3.5m, in line with management expectations
(30 June 2024: $3.6m loss)

·    Revenue year-to-date is $379k (30 June 2024: $50k)

 

* Earnings before interest, tax, depreciation and amortisation adjusted for
share-based payments

 

Outlook

·    Given the Company's cash runway, the Board intends to explore a
possible fundraising over the coming weeks

 

Dr. Marla Dubinsky, Chief Executive Officer of Trellus Health, said: "We are
very proud of what we have achieved year-to-date, further reducing our cost
base, while successfully building a new clinical trial vertical and advancing
our broader strategic evolution. By aligning closely with our partners'
immediate needs and financial priorities, we have strengthened our position as
a valuable partner. Our evidence-based suite of services for pharma improves
adherence, persistence and engagement, while also delivering key real-world
behavioural insights, all essential drivers of success across their end-to-end
business. We expect to announce at least one new collaboration by November and
confirm the Board's intention to explore a possible fundraise over the coming
weeks to scale our commercial strategy."

 

Going Concern and Fundraising

 

The Group is in the early stages of commercialising its business and has
generated revenues of $379k year to date, related to implementation services
and piloting new patients in the platform. At 30 June 2025, the Group had
available cash resources of $1.6m (31 Dec. 2024: $4.1m). As previously
announced, the Group's present cash will provide a runway into early November
2025 and that expectation remains unchanged.

 

Given the Company's early stage in commercialisation, the Board believes that
a fundraising is the most appropriate course of action to maximise value.
Accordingly, the Board confirms its intention to explore a possible
fundraising over the coming weeks with the appropriate structure and quantum
to be determined. The Company is currently discussing the optimal fundraising
strategy with its professional advisers and the Board will provide
shareholders with further updates in the coming weeks.

 

The Directors have taken steps to reduce outgoings and continue to evaluate
all commercial options in a way that maximises its value, including ongoing
discussions with a number of potential commercial partners. The Directors are
optimistic that additional funding can be obtained to enable the Company and
the Group to continue in existence for a period of at least 12 months at the
date of approval of these financial statement, however, there is no guarantee
that sufficient cash inflows from partnerships, an equity or debt fundraising,
or other sources of finance will be forthcoming or in the timeframe
required-refer to Note 2.

 

 

Enquiries:

 

 Trellus Health plc                                                     https://trellushealth.com/ (https://trellushealth.com/)

 Dr. Marla Dubinsky, Chief Executive Officer and Co-Founder            Via Walbrook PR
 Joy Bessenger, Chief Financial Officer
                                                                       https://singerscm.com

 Singers Capital Markets
 Jen Boorer / James Todd / Patrick Weaver                              Tel: +44 (0)20 7496 3000

 Walbrook PR           Tel: +44 (0)20 7933 8780 or trellus@walbrookpr.com
                       (mailto:trellus@walbrookpr.com)
 Paul McManus / Lianne Applegarth /          Mob: +44 (0)7980 541 893 / +44 (0)7584 391 303/
 Alice Woodings                                                        +44 (0)7407 804 654

 

About Trellus Health® plc (www.trellushealth.com)

Trellus Health® (AIM: TRLS) is a healthcare company providing value-based
innovative solutions and services, helping people with chronic conditions take
control of their health through a proven, scientifically validated
self-management solution and continuous, personalised support. Trellus
Health's approach empowers patients to better navigate the emotional and
physical challenges of their conditions, leading to significant cost savings,
enhanced treatment adherence, and long-term, sustainable health outcomes.

 

Trellus Health® integrates its proprietary resilience-based methodology with
the technology, tools, and expert coaching and educator team to deliver
Trellus Elevate®, a whole-person technology-enhanced condition management
platform. The Company is initially focusing on chronic costly GI conditions
that have a high mental health burden, such as Inflammatory Bowel Disease
(IBD). Among IBD patients, applying the Trellus Elevate® methodology resulted
in over 90% fewer hospitalisations and a reduction of over 70% in emergency
room visits. Given the common emotional and mental health struggles associated
with a variety of chronic conditions and therapeutic areas, Trellus Health®
considers its approach to have potential utility and demand across many
conditions.

 

Trellus Health® also offers a seamless solution for pharmaceutical partners
from clinical trials to commercialisation, harnessing resilience-based methods
to drive both trial and patient support success by empowering patients to stay
engaged, adhere to their treatment, and manage their health confidently.

 

The Company was founded by Icahn School of Medicine at Mount Sinai faculty
members Marla C. Dubinsky, MD, and Laurie Keefer, PhD, both world-leading
experts in treating both the physical and emotional impacts of IBD, with a
combined 50 years of pioneering whole-person healthcare innovation.

 

Shares in Trellus Health® were admitted to trading on AIM in May 2021, under
the ticker TRLS. For more information, visit: www.trellushealth.com

 

 

Forward-Looking Statements

 

Certain statements made in this announcement are forward-looking statements.
These forward-looking statements are not historical facts but rather are based
on the Company's current expectations, estimates, and projections about its
industry; its beliefs; and assumptions. Words such as 'anticipates',
'expects', 'intends', 'plans', 'believes', 'seeks', 'estimates', and similar
expressions are intended to identify forward-looking statements. These
statements are not guarantees of future performance and are subject to known
and unknown risks, uncertainties, and other factors, some of which are beyond
the Company's control, are difficult to predict, and could cause actual
results to differ materially from those expressed or forecasted in the
forward-looking statements.

 

The Company cautions security holders and prospective security holders not to
place undue reliance on these forward-looking statements, which reflect the
view of the Company only as of the date of this announcement. The
forward-looking statements made in this announcement relate only to events as
of the date on which the statements are made. The Company will not undertake
any obligation to release publicly any revisions or updates to these
forward-looking statements to reflect events, circumstances, or unanticipated
events occurring after the date of this announcement except as required by law
or by any appropriate regulatory authority.

 

CEO STATEMENT

 

Commercial progress

 

Our strategic focus continues to concentrate on executing agreements with
pharmaceutical companies, clinical trial organizations and healthcare sectors.

 

Expansion of verticals

 

The pharmaceutical sector remains a key strategic vertical for the Group. Our
collaborative agreement signed with Johnson & Johnson Health Care Systems
Inc. ('J&J') in January 2025 continues to proceed well. The pilot, which
assesses the potential for the Trellus Elevate® program to support patients
with moderately to severely active inflammatory bowel disease ('IBD') of
patients in the US, has continued to deliver key metrics, with 99% patient
satisfaction ratings and average engagement of 50 touchpoints during a 28-day
period. These are early but key metrics, underpinning the benefit of the
platform. Based upon the achievement of these metrics, J&J is broadening
the enrolment channels from the initial narrow funnel.

 

Our strategy remains focused on expansion into our clinical trial vertical
this year.  There is a significant, well-defined problem in clinical trials
across disease states, CROs and pharma-the difficulty in recruiting and
retaining qualified participants for most trials. Industry data indicates that
over 50% of participants fail screening in clinical trials, leading to costly
delays and inefficiencies in trial execution.

 

To address this, we have developed Trellus TrialSet™, a proprietary clinical
trials solution powered by Trellus Elevate®. Built on the same validated
resilience science and digital platform, TrialSet™ is designed to assess and
strengthen participant readiness, ensuring that individuals have the
resilience, skills, and tools to engage, adhere, and persist throughout the
course of a trial. The solution aims to increase the number and quality of
referrals from pre-screening to site-based screening, reduce screen failure
rates, and improve participant recruitment and retention, ultimately enhancing
trial outcomes

 

Ongoing Business Update

 

In February 2024, Trellus Health® signed an agreement with a major U.S.
health plan to deliver the Trellus Elevate® IBD program to members receiving
care in two states. While this individualized resilience program is winding
down, with the last members completing in September 2025, it has already
provided Trellus Health® with significant insights from the data collected.

 

Positive outcomes from these health plan members include an 89% increase in
resilience-associated behaviours and 78% reporting greater confidence in
managing their condition. While the sample size was small, the data
demonstrates the clinical utility of Trellus Elevate®, showing its ability to
empower individuals to manage both the emotional and physical challenges of
their conditions - driving cost savings, improved adherence, and sustainable
long-term outcomes.

 

The Company has also renewed its agreement with Pfizer to license patient
support education content for use in Pfizer's IBD digital app. In addition,
the licensing agreement with AstraZeneca for their Phase 2 IBD trial is
ongoing.

 

Enhancing the user and partner experience

 

In the first half of the year, we enhanced the user interface and overall
experience, driving increased engagement on the platform. We also achieved SOC
2 Type II recertification, reaffirming our commitment to the highest standards
of privacy and security for our partners and their members. Looking ahead, we
are beginning the process for GDPR certification to enable program delivery to
clients outside North America. Additionally, through our clinical trial
vertical, we are launching our first condition-agnostic program, expanding our
reach beyond IBD into multiple therapeutic areas.

 

Financial review

 

During the period, we maintained a strong focus on cash discipline while
continuing to execute on our commercial strategy and enhance platform
adaptability. Our adjusted EBITDA loss for the period was $3.5m (30 June 2024
$3.6m loss), in line with management expectations. Administrative costs for
the first half were $3.3m (30 June 2024: $4.1m.)

 

As of 30 June 2025, the Company's net cash position was $1.6m (31 December
2024: $4.3m). As previously announced, we have extended our cash runway into
November 2025.

 

Outlook

 

The Company's clinically proven resilience platform, Trellus Elevate®, is
designed to close the gap between behaviour and adherence, driving scalable
results across our verticals. By improving engagement, adherence, persistence,
recruitment quality, and retention, we deliver stronger ROI for our clients.

 

Data from our initial programmes and pilot study show promising, real-world
impact. By prioritizing the individual, understanding their behaviours,
providing tailored support, and addressing their unique challenges, we empower
people to stay on treatment plans and become active participants in their own
health journey. This leads to better adherence, stronger engagement, and
improved outcomes.

 

Building on this foundation, we are in late-stage discussions with a second
global CRO and will update the market in due course across our verticals.
Given the Company's early stage in commercialisation, the Board believes that
a fundraising is the most appropriate course of action to maximise value.
Accordingly, the Board confirms its intention to explore a possible
fundraising over the coming weeks, with the appropriate structure and quantum
to be determined.

 

 Dr. Marla Dubinsky
 Chief Executive Officer and Co-Founder

 8 September 2025

   CONSOLIDATED CONDENSED STATEMENT OF COMPRENSIVE INCOME FOR THE 6 MONTHS
ENDED

   30 JUNE 2025

 

                                                                              6 Months Ended   6 Months Ended           Year Ending

                                                                              30 June 2025     30 June 2024 Unaudited   2024

                                                                              Unaudited                                 Audited
                                                                              US$'000          US$'000                  US$'000
 Continuing operations
 Revenue                                                                      295              50                       114
 Administrative expenses                                                      (3,310)          (4,104)                  (8,141)
 Operating loss                                                               (3,015)          (4,054)                  (8,027)
 Share based payments                                                         8                7                        13
 Depreciation and amortisation                                                442              428                      865
 EBITDA before share-based payment                                            (3,465)          (3,619)                  (7,149)
 Interest received                                                            18               163                      245
 Loss before taxation                                                         (2,997)          (3,891)                  (7,782)
 Income tax charge                                                            -                -                        -
 Loss for the period                                                          (2,997)          (3,891)                  (7,782)
 Loss per ordinary share attributable to the owners of the parent during the  $                $                        $
 period
 Basic and diluted                                                            (0.02)           (0.02)                   (0.05)

 

  CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE 6 MONTHS ENDED 30
JUNE 2025

 

                                          6 months ended 30 June 2025  6 months ended 30 June 2024  Year ended 31 December 2024
                                          Unaudited                    Unaudited                    Audited
                                          US$'000                      US$'000                      US$'000
 Loss for the period                      (2,997)                      (3,891)                      (7,782)
 Other comprehensive expense:
     Currency translation differences     (72)                         (6)                          35
 Total comprehensive loss for the period  (3,069)                      (3,897)                      (7,747)

 

 

 

CONSOLIDATED CONDENSED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025

 

                                              As at 30 June 2025  As at 30 June 2024  As at 31 December 2024
                                              Unaudited           Unaudited           Audited
                                              US$'000             US$'000             US$'000

 Assets
 Non-current assets
 Property, plant and equipment                6                   23                  13
 Intangible assets                            7,351               7,926               7,616
 Total non-current assets                     7,357               7,949               7,629

 Current Assets
 Trade and other receivables                  294                 200                 165
 Cash and cash equivalents                    1,568               8,045               4,344
 Total current assets                         1,862               8,245               4,509
 Total assets                                 9,219               16,194              12,138

 Equity attributable to owners of the parent
 Share capital                                137                 137                 137
 Share premium                                43,387              43,387              43,387
 Other reserve                                246                 232                 238
 Foreign currency reserves                    (2,472)             (2,441)             (2,400)
 Retained earnings                            (32,592)            (25,704)            (29,595)
 Total equity                                 8,706               15,611              11,767

 Current liabilities
 Trade and other payables                     513                 583                 371
 Total liabilities                            513                 583                 371
 Total equity and liabilities                 9,219               16,194              12,138

 

 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE 6 MONTHS ENDED 30 JUNE
2025

 

                                                     Share Capital  Share Premium  Foreign Currency Reserve  Other reserves  Retained earnings

                                                                                                                                                Total
                                                     US$'000        US$'000        US$'000                   US$'000         US$'000            US$'000

 At 1 January 2024                                   137            43,387         (2,435)                   225             (21,813)           19,501
 Comprehensive income
 Loss for the period                                 -              -              -                         -               (3,891)            (3,891)
 Other comprehensive expenses
 Currency translation differences                    -              -              6                         -               -                  6
 Total comprehensive expense                         -              -              6                         -               (3,891)            (3,885)
 Transactions with owners
 Share based payments                                -              -              -                         7               -                  7
 Total contributions by and distributions to owners  -              -              -                         7               -                  7
 At 30 June 2024                                     137            43,387         (2,429)                   232             (25,704)           15,623
 Comprehensive income
 Loss for the period                                 -              -              -                         -               (3,891)            (3,891)
 Other comprehensive expenses
 Currency translation differences                    -              -              29                        -               -                  (29)
 Total comprehensive expense                         -              -              29                        -               (3,891)            (3,862)
 Transactions with owners
 Share based payments                                -              -              -                         6               -                  6
 Total contributions by and distributions to owners  -              -              -                         6               -                  6
 At 31 December 2024                                 137            43,387         (2,400)                   238             (29,595)           11,767
 Comprehensive income
 Loss for the period                                 -              -              -                         -                                  (2,997)
 Other comprehensive expenses
 Currency translation differences                    -              -              (72)                                      -                  (72)

                                                                                                             -
 Total comprehensive expense                         -              -              (72)                      -               (2,997)            (3,069)
 Transactions with owners
 Share based payments                                -              -              -                         8               -                  8
 Total contributions by and distributions to owners  -              -              (72)                      8               -                  8
 At 30 June 2025                                     137            43,387         (2,472)                   246             (32,592)           8,706

 

 

 

CONSOLIDATED CONDENSED STATEMENT OF CASH FLOWS FOR THE 6 MONTHS ENDED 30 JUNE
2025

 

                                                    6 months             6 months ended 30 June 2024  Year ended to 31 December 2023

                                                    ended 30 June 2025
                                                    Unaudited            Unaudited                    Audited
                                                    US$'000              US$'000                      US$'000
 Cash flow from operating activities
 Loss before income tax                             (3,015)              (4,054)                      (8,027)
 Adjustments for
 - Depreciation, amortisation and impairment        442                  428                          865
 - Share-based payments                             8                    7                            13
 - Foreign exchange                                                      (1)                          -
 Changes in working capital
 - Trade and other receivables                      (129)                (37)                         (2)
 - Trade and other payables                         142                  (203)                        (415)
 Interest received                                  18                   163                          245
 Net cash used in operating activities              (2,534)              (3,697)                      (7,321)
 Cash flow from investing activities
 Internally generated intangible assets             (170)                (419)                        (540)
 Net cash used in investing activities              (170)                (419)                        (540)
 Cash flow from financing activities
 Net proceeds from issue of ordinary shares         -                    -                            -
 Net cash generated from financing activities       -                    -                            -
 Net decrease in cash and cash equivalents          (2,704)              (4,116)                      (7,861)
 Cash and cash equivalents at beginning of period   4,334                12,166                       12,166
 Exchange gain/(loss) on cash and cash equivalents  (72)                 (5)                          39
 Cash and cash equivalents at end of period         1,568                8,045                        4,344

 

 

 

NOTES FORMING PART OF THE INTERIM FINANCIAL STATEMENTS

 

1. General information and basis of presentation

 

Trellus Health plc is a public limited company incorporated in the United
Kingdom (Registration Number 12743489). The address of the registered office
is Avon House, 19 Stanwell Road, Penarth, CF64 2EZ.

 

The principal activity of Trellus Health PLC (the "Company") is the delivery
of resilience-driven care for complex chronic conditions.

 

The Group's principal activity is that of delivery of resilience-driven care
for complex chronic conditions.

 

Basis of preparation

The financial information in these interim results is that of the holding
company and all of its subsidiaries and are unaudited. It has been prepared in
accordance with the recognition and measurement requirements of International
Financial Reporting Standards as adopted for use in the United Kingdom, IFRS
IC interpretations, and the Companies Act 2006 applicable to companies
reporting under IFRS.

 

The presentation currency of the Group is United States Dollars ("USD" or
"US$") and this is the currency of the primary economic environment that the
main business operates in.

 

Certain statements in this announcement constitute forward-looking statements.
Any statement in this announcement that is not a statement of historical fact
including, without limitation, those regarding the Company's future
expectations, operations, financial performance, financial condition and
business is a forward-looking statement. Such forward-looking statements are
subject to risks and uncertainties that may cause actual results to differ
materially. These risks and uncertainties include, amongst other factors,
changing economic, financial, business or other market conditions. These and
other factors could adversely affect the outcome and financial effects of the
plans and events described in this announcement and the Company undertakes no
obligation to update its view of such risks and uncertainties or to update the
forward-looking statements contained herein. Nothing in this announcement
should be construed as a profit forecast.

 

The financial information presented herein does not constitute full statutory
accounts under Section 434 of the Companies Act 2006 and was not subject to a
formal review by the auditors. Comparative figures in the Interim Report for
the year ended 31 December 2024 have been taken from the Group's audited
statutory financial statements on which the Group's auditors, Crowe U.K. LLP,
expressed an unqualified opinion with a material uncertainty in relation to
the Company's funding arrangements that may cast significant doubt on the
ability of the Company and the Group to continue as a going concern. The
comparative figures to 30 June 2024 are unaudited.

 

These interim accounts have not been prepared in accordance with IAS 34,
'Interim financial reporting'. They have been prepared under AIM Rules of UK
companies and have been authorised for issue by the Company's Board of
directors on 8 September 2025.

 

2. Summary of significant accounting policies

 

The accounting policies applied by the Group in this financial information are
the same as those applied by the Group in its financial statements for the
period ended 30 June 2025 and which will form the basis of the 2025 financial
statements except for a number of new and amended standards which have become
effective since the beginning of the previous financial year. These new and
amended standards are not expected to materially affect the Group.

 

The principal accounting policies adopted in the preparation of the historical
financial information of the Company, have been applied consistently to the
period presented.

 

Going Concern

 

The Group is in the early stages of commercialising its business and generated
revenues of $428k to date related to implementation services and piloting new
patients in the platform.  At 30 June 2025, the Group had available cash
resources of $1.6m (31 December 2024: 4.3m). The Group's present cash position
will provide a runway to early November 2025 and that expectation remains
unchanged.

 

In considering the appropriateness of this basis of preparation, the Directors
have prepared financial forecasts and projections for the Group for a minimum
of 12 months from the date of the approval of these financial statements.
There are considerable uncertainties, particularly in relation to the quantum
and timing of cash receipts from revenue, especially revenue from anticipated
contracts. Those financial forecasts and projections have, therefore,
considered sensitivities in relation to both quantum and timing of receipts
and costs.

 

The Directors have taken steps to reduce outgoings and continue to evaluate
all commercial options in a way that maximises its value, including ongoing
discussions with a number of potential commercial partners and discussions
with professional advisers in relation to fund raising options.

 

Having taken into account the information and estimates available at the date
of approval of these financial statements, the Directors consider that the
Group will require additional funding before November 2025 and are taking
steps to put in place such funding arrangements as may be required. Given the
Company's early stage in commercialisation, the Board believes that a
fundraising is the most appropriate course of action to maximise value.
Accordingly, the Board confirms its intention to explore a possible
fundraising over the coming weeks with the appropriate structure and quantum
to be determined. The Company is yet to commence discussion with investors in
respect of a potential fundraise and there is no certainty a fundraising will
complete.

 

The Directors are optimistic that additional funding can be obtained to enable
the Company and the Group to continue in existence for a period of at least 12
months at the date of approval of these financial statements however, there is
no guarantee that sufficient cash inflows from partnerships, equity
fundraising or other sources will be forthcoming, or in the timeframe
required. This represents a material uncertainty in relation to the funding
arrangements of the Group which may result in the Company and the Group not
being a going concern.

 

If the Directors are unable to secure sufficient funding they could be forced
to take all necessary steps to reduce outgoings and/or take other actions
which could include the sale of assets or winding up of the company.

 

3. Income tax

 

The Group has no provision for corporation tax due to tax losses incurred
since incorporation. The Group has incurred indefinitely available tax losses
of approximately US$29m (December 2024 - US$25m) to carry forward against
future taxable income at the end of 30 June 2025. No deferred tax asset has
been recognised in respect of such losses and temporary differences due to the
unpredictability of future profit streams. Such losses may be carried forward
indefinitely.

 

4. Loss per share

 

Basic loss per share is calculated by dividing the loss attributable to equity
holders of the parent by the weighted average number of ordinary shares in
issue during the period.

 

Diluted loss per share is calculated by adjusting the weighted average number
of ordinary shares outstanding assuming conversion of all dilutive potential
ordinary shares. The Company has one category of dilutive potential ordinary
share, being share options. Currently the share options are anti- dilutive.

 

 

 

 

 

                                                      6 months ended 30 June 2025  6 months ended 30 June 2024  Year ended 31 December 2024
                                                      Unaudited                    Unaudited                    Audited
                                                      US$'000                      US$'000                      US$'000
 Loss attributable to owners of the parent            (2,997)                      (3,891)                      (7,782)

                                                      Number                       Number                       Number
 Weighted average number of ordinary shares in issue  161,508,333                  161,508,333                  161,508,333

                                                      US$                          US$                          US$
 Basic loss per share                                 (0.02)                       (0.02)                       (0.05)

 

 

5. Intangible Fixed Assets

                              Software            Licence costs  Total

                              Development costs

                              US$'000             US$'000        US$'000
 Cost
 On 1 January 2024            9,061               453            9,514
 Additions                    419                 -              419
 Foreign currency difference  -                   -
 At 30 June 2024              9,480               453            9,933
 Additions                    122                 -              122
 Foreign currency difference  -                   (4)            (4)
 At 31 December 2024          9,602               449            10,051
 Additions                    170                 -              170
 At 30 June 2025              9,772               4449           10,221

 Depreciation
 On 1 January 2024            (1,507)             (84)           (1,591)
 Charge for the period        (395)               (21)           (416)
 Impairment Charges           -                   -              -
 At 30 June 2024              (1,902)             (105)          (2,007)
 Charge for the period        (407)               (21)           (428)
 At 31 December 2024          (2,309)             (126)          (2,435)
 Charge for the period        (414)               (21)           (435)
 At 30 June 2025              (2,723)             (147)          (2,870)

 

  Net Book Value

 30 June 2024      7,578  348  7,926
 31 December 2024  7,293  323  7,616
 30 June 2025      7,049  302  7,351

 

 

 

 

 

6. Dividends

No dividends to shareholders of the holding company were provided or paid
during the six months to 30 June 2025 (31 December 2024: £Nil).

 

7. Events after the reporting date

There have been no events subsequent to the period end that require disclosure
in these financial statements.

 

8. Related party transactions

The amount owed to Mount Sinai at 31 December 2024 was $Nil (31 December 2023
- $1K). In the period ending 30 June 2025, the company paid royalties to Mount
Sinai of $5.7k. The amount outstanding at 30 June 2025 is $Nil (30 June 2024 -
$Nil).

 

9. Availability of this announcement

This announcement is available from the Company's website,
https://trellushealth.com/ (https://trellushealth.com/) . If you would like to
receive a hard copy of the interim report, please contact the Trellus Health
plc's investor relation team (Walbrook PR) on +44 (0)20 7933 8780 or
trellus@walbrookpr.com (mailto:trellus@walbrookpr.com) to request a copy.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
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