ALCHEMIA REPORTS NET LOSS OF $15.8M

Written on the 26 February 2015

ALCHEMIA REPORTS NET LOSS OF $15.8M

BRISBANE biotech company Alchemia (ASX:ACL) has reported a net loss of $15.8 million for the first half of the 2015 financial year, compared to $5.5 million for the six months ending 31 December 2013.

A contributing factor of this result was the failure of its recent cancer drug trial.

The pivotal phase three clinical trial of HA-Irinotecan in metastatic colorectal cancer failed to reach its primary endpoint in significant improvement in progression free survival and did not meet its secondary endpoint of an improvement in overall-survival.

This led to shares dropping by 83 per cent from 51.5 cents to 10.5 cents, in November 2014. 

Since the announcement of the above results, ACL has undergone a strategic review of all its assets and operations.

In addition, ACL has recorded profit share income arising from sales of fondaparinux - a collaboration agreement with Dr Reddy's Laboratories - of $2.8 million for the period and had net assets of $11.6 million.

In addition, operating expenditure of $24.9 million increased by $14.2 million over the corresponding period.


Latest News

2017 BRISBANE TOP COMPANIES REVEALED

WHILE Queensland is regarded as an economy in transition with the winding down of the mining boom, the 2017 top 50...

2017 BRISBANE TOP COMPANIES 1-10

FROM insurance and banking to travel, gambling, retail, property and pizza, these "heavyweights" have ha...

2017 BRISBANE TOP COMPANIES 11-20

RETAIL, property, an airline, cars, real estate, software services, energy, agriculture, veterinary services bathr...

2017 BRISBANE TOP COMPANIES 21-30

JEWELLERS Michael Hill International listed in 2016 with a half-billion dollar market capitalisation and a new CEO...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter