SkyePharma publishes interim management statement

SkyePharma has published its interim management statement based on trading from the period July 1st – September 30th 2008.

Dr Ken Cunningham, chief executive officer of the company, states the period in question has been one of “significant progress” for the company, in which it has completed successful fundraising activities and restructured its finances.

He adds the company announced “excellent” top-line results for a final phase III efficacy study for Flutiform last week and adds it looks forward to the new drug application filing in the USA in the first quarter of 2009.

“With growing revenues from across our portfolio and declining costs for the development of Flutiform, we continue to focus on moving SkyePharma towards long-term profitable growth,” Dr Cunningham continues.

SkypePharma states administration expenses have remained in line with the run rate of the first half of the year and that the revenues since July 1st have continued to show significant growth compared with 2007.

Earlier this month, the company announced that the new terms for the 2025 and 2024 convertible bonds were effective, successfully completing transactions announced at the beginning of September.