Ark Therapeutics sees losses increase

Ark Therapeutics’ losses have increased due to increasing research costs, financial information from the company has shown.

It reported pre-tax losses of ?16.8 million for the whole of 2005, compared to ?13.1 million for the year before. Research spending rose from ?4 million in 2004 to ?14 million.

However, the firm remained positive and claimed that it had scored a number of “world firsts” in a “most successful year”. It has made EMEA submissions for its brain cancer treatment Cerepro and received positive interim results for its haemodialysis access system for kidney failure patients Trinam.

Meanwhile, revenues jumped from ?154,353 to ? 2,346,928, mostly on the back of an intellectual property deal made with German firm Boehringer Ingelheim and its only currently marketed leg ulcer treatment Kerraboot.

“We finished the year with cash and money market investments of ?34.3 million,” said CEO Dr Nigel Parker.

“Overall, we have been very pleased with the progress and milestone achievements across the business during 2005 and we believe 2006 will be another exciting year for Ark. We look forward to continuing to report strong progress.”

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