Ark reports L15.1M losses for 2005

UK-based company Ark Therapeutics has announced a loss of L15.1 million ($26.2 million) for the year ended December 31, 2005, an increase on the L11.9 million it lost in 2004. Ark attributes its increased losses to the expenses associated with the clinical development of some of its lead product candidates.

Highlights of its 2005 product development program included: the entry of its drug Cerepro into Phase III trials as a treatment for brain tumors; the initiation of Phase II studies of Trinam (EG004) for the prevention of the post-surgical blockage of blood vessels; and the completion of European CE-marking for its OX-LDL cardiovascular risk test. The company also reported continued growth of its wound-care device for leg and foot ulcers, Kerraboot, adding that it has signed out-licensing deals with firms in four countries including China.

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