"Refined Business Focus" At Cantab
Cantab Pharmaceuticals of the UK closed 1995 within budget, with a closing cash position of L11.2 million ($17.3 million). The firm's loss for the year was L6.1 million, compared to L4.1 million in 1994.
Operating expenses in 1995 increased to L7.7 million, up 20.3%. The firm said that the majority of this rise was attributable to further investment in R&D as products reach more advanced stages of clinical and preclinical development.
"Despite the challenges we faced in the early part of the year," commented Paul Haydock, Cantab's chief executive, "we have refined our business focus, succeeded in meeting our internal targets on all product programs and unlocked enormous opportunity in our technology and scientific platforms."
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