Revenue higher, cash reserves fall at Arecor
By Josh White
Date: Monday 03 Feb 2025
(Sharecast News) - Arecor Therapeutics reported total full-year revenue of £5.1m in a trading update on Monday, up from £4.6m in 2023.
The AIM-traded company said cash and cash equivalents stood at £3.3m at year-end on 31 December, compared with £6.8m in the prior year.
Audited results were expected to be released in April.
Arecor said it was continuing to focus on advancing its proprietary products and drug delivery technologies in areas of high unmet medical need.
Progress towards a co-development partnership for its AT278 clinical pump study remained on track, while non-clinical pharmacokinetic data for its oral GLP-1 programme was expected in the first half of this year.
The firm said it remained committed to delivering transformational value opportunities through its pipeline and technology platforms.
"Arecor is focussed on transforming patient care by bringing innovative medicines to market," said chief executive officer Sarah Howell.
"As such, we are focused on research and development opportunities where there are significant unmet patient needs that we can address, in high value markets."
Howell said the company was "particularly excited" by the prospects of AT278, its ultra-concentrated, ultra-rapid acting insulin, as well as its prospects of developing a "game-changing technology platform" for the oral delivery of peptides on the back of early initial positive data.
"We are well positioned for future success and remain confident in our prospects having now streamlined our focus to fully pursue opportunities for Arecor that drive significant value creation for shareholders."
At 1317 GMT, shares in Arecor Therapeutics were down 2.38% at 57.11p.
Reporting by Josh White for Sharecast.com.
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