Investment Column: Rising losses at Chiroscience
Tuesday 29 April 1997
The company has not been shy about selling the virtues of its drugs pipeline, which includes a look-alike version of British Biotech's Marimastat anti- cancer drug and a non-steroidal asthma drug based on so-called PDE IV inhibitors. It is already claiming its matrix metalloproteinase drug for cancer and its asthma treatment offer reduced side effects. Yet the comparisons are being made against drugs some years away from the market, while the company's own treatments will only start to be tested in humans later this year.
More tangible evidence of progress came yesterday with news the ChiroTech subsidiary had become the first part of Chiroscience to break into the black, recording profits of pounds 1.2m last year. The business merely provides intermediate chemicals, admittedly sophisticated ones, to other pharmaceutical companies.
Chiroscience is promising an update next month on progress at Darwin Molecular, the US drug discovery operation acquired last year in another marketing coup, bringing in as it did Microsoft founder Bill Gates as a shareholder.
But more important is the outlook for Levobupivacaine, a more chemically pure version of an anaesthetic produced by Astra. That is on course to be submitted for approval in Europe this year.
But with so much riding on that single product, the shares remain speculative. A further cash call is also a real prospect, given that operating losses are set to rise to pounds 25m this year.
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 3 Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations
- 4 Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
- 5 UK weather: 'Coldest night of the year' tonight as freezing temperatures plummet to -10C
President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations
Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
AirAsia flight QZ8501 missing: Search for plane carrying 162 passengers from Indonesia to Singapore suspended overnight
Millions of Britons struggling to feed themselves and facing malnourishment
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
Immigrants make UK racist, says Ukip councillor Trevor Shonk
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...