No big change in 2008 results for Genemedix
UK-based biopharmaceutical company GeneMedix' financial results for the 12 months ending March 31, 2008, showed similar figures to last year, as the firm continued to generate no turnover.
The company's only income came from finance, which produced a greater amount to the 16-month comparator period, L330,000 ($582,000) this year versus L87,000 previously. R&D expenses were down to L2.3 million vs L3.4 million in the 16-month period.
This brought the firm's net loss to L5.2 million vs L5.6 million, although the loss per share told a different story at 3.4 pence vs 11.5 pence. Cash and cash equivalents were heavily drained, dropping to L2.8 million from L9.3 million, although the firm notes that it has sufficient funds to last at least the next 12 months due to continued investment from India's Reliance Life Sciences (Marketletter December 22, 2006).
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