The company said its pretax loss for the year to
The higher development costs were related to additional costs linked to the start of pre-clinical studies on its Moditope cancer immunotherapy research platform. The group said it is working on preparing Modi-1, the lead vaccine from the platform, for clinical trials, scheduled to start in 2016.
The group's other cancer immunotherapy platform, ImmunoBody, secured an orphan drug designation from the
The administrative costs were increased by additional patent costs which arose over the year, said the company.
The group's cash balance at
"Cancer immunotherapy is emerging as one of most exciting areas of pharmaceutical research and development.
"The board remains dedicated to realising value for our shareholders as we continue to build upon the excellent data garnered to date," Goodfellow added.
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