Intercytex posts first sales for Vavelta
UK-based cell therapy specialist Intercytex has improved its loss marginally for the six months ending June 30, 2008, as it began to take in revenue for Vavelta.
The facial rejuvenation product brought in L2,000 ($3,588) during the period following its launch and comprises the firm's total sales. R&D costs increased to L5.4 million versus L5.0 million in the same period of the year before.
The company's net loss for the period stood at L5.9 million, or 7.4 pence per share, vs L5.5 million, or 9.3 pence per share. Cash and cash equivalents were up to L2.4 million vs L1.5 million, but total assets more than halved to L9.6 million vs L19.7 million.
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