Losses continue to deepen at Antisoma

Antisoma of the UK says losses for the quarter ended September 30,2001, were L2.3 million ($3.4 million), an increase of 35.3%, while revenues were down 37.5% to L500,000. The company noted that its R&D spend remained at the same level as the like, year-earlier period at L2 million. Antisoma added that a Phase III study of Theragyn (pemtumomab) for ovarian cancer is continuing to advance, but an interim analysis of the trial is unlikely to be published before 2003.

Funds running low

Antisoma ended the reporting period with L6.8 million in cash and equivalents and the company said that it plans to raise further funds "through out-licensing or further capital increases." The group's chairman, Barry Price, noted that the firm has four products in the clinic, with five others set to enter trials, but acknowledged the need to secure the necessary funds "to help realize their full value."