PureTech Health (PRTC)

Sector:

Pharma and Biotech

Index:

FTSE 250

198.40p
   
  • Change Today:
    -10.60p
  • 52 Week High: 237.50
  • 52 Week Low: 140.40
  • Currency: UK Pounds
  • Shares Issued: 270.81m
  • Volume: 650,542
  • Market Cap: £537.30m

Puretech Health operating losses narrow in 'landmark year'

By Iain Gilbert

Date: Thursday 25 Apr 2024

LONDON (ShareCast) - (Sharecast News) - Biotechnology company Puretech Health said on Thursday that 2023 had been "a landmark year" for the group, making "strong strategic and clinical progress".
Puretech Health said total revenues had fallen from $15.61m in FY22 to $3.33m in FY23 but also noted that operating losses had narrowed to $146.99m from $197.8m, general and administrative expenses had dropped from $60.99m to $53.29m, and research and development expenses fell from $152.44m to $96.23m.

Pre-tax losses also narrowed, improving from a loss of $92.78m in FY22 to $36.1m in FY23. On a per share basis, however, Puretech reported a loss per share of 0.24p, widening from FY22's 0.18p loss.

The FTSE 250-listed firm added that its level cash, cash equivalents and short-term investments were $326.0m at he end of the year, while its consolidated cash, cash equivalents and short-term investments were $327.1m and said it has operational runway into "at least 2027".

Chief executive Bharatt Chowrira said: "2023 was a landmark year for PureTech, in which we made strong strategic and clinical progress. We've carried this momentum into 2024, with our hub-and-spoke R&D model continuing to deliver value for both patients and shareholders. Through this model we are able to ambitiously pursue our mission of giving life to science by developing therapies that make a meaningful difference to patients with devastating diseases."

As of 1005 BST, Puretech shares were up 5.18% at 223.50p.











Reporting by Iain Gilbert at Sharecast.com

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PRTC Market Data

Currency UK Pounds
Share Price 198.40p
Change Today -10.60p
% Change -5.07 %
52 Week High 237.50
52 Week Low 140.40
Volume 650,542
Shares Issued 270.81m
Market Cap £537.30m

PRTC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
16.02% below the market average16.02% below the market average16.02% below the market average16.02% below the market average16.02% below the market average
37.25% above the sector average37.25% above the sector average37.25% above the sector average37.25% above the sector average37.25% above the sector average
Price Trend
27.66% above the market average27.66% above the market average27.66% above the market average27.66% above the market average27.66% above the market average
84.91% above the sector average84.91% above the sector average84.91% above the sector average84.91% above the sector average84.91% above the sector average
Income Not Available
Growth
67.39% below the market average67.39% below the market average67.39% below the market average67.39% below the market average67.39% below the market average
77.14% below the sector average77.14% below the sector average77.14% below the sector average77.14% below the sector average77.14% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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PRTC Dividends

No dividends found

Trades for 24-Jun-2024

Time Volume / Share Price
16:47 6,536 @ 200.30p
16:36 59,000 @ 201.52p
16:35 159,970 @ 198.40p
16:35 1,918 @ 198.40p
16:35 2,203 @ 198.40p

PRTC Key Personnel

Chair Raju Kucherlapati
CEO Bharatt Chowrira

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