Loss for Cantab

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CANTAB Pharmaceuticals, a biotechnology company in which Glaxo Wellcome has a 4 per cent stake, yesterday reported a pounds 2.9m loss in the first half of 1998 compared with a pounds 2m profit a year ago.

The company said the 1997 profit had been boosted by a pounds 5m payment from Glaxo for the licence to a Cantab drug.