ExonHit's 1st-half sales rise 48% to 3.2M euros

French drug and diagnostics discovery firm ExonHit Therapeutics says that its consolidated R&D revenues for the first six months of 2006 were 3.2 million euros ($4.1 million), up 48% on the comparable period last year. The company said that early renewal, for an additional three years, of its strategic collaboration with US drugmaker Allergan had driven its turnover expansion, adding that the extension of the relationship was further evidence of the power of its drug discovery engine.

Bruno Tocque, president of ExonHit's board, also highlighted the firm's collaboration with fellow French company bioMerieux on the development of an early blood test for cancer, as being another factor that had contributed to its improved performance, particularly in terms of future revenue prospects. The group's net losses were 1.8 million euros, down 19% on the year-earlier period.

Higher G & A costsin line with expansion