INCORRECT NEWS ,Annoyed at the very least. report states LCT loss is 42c per share
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Living Cell Technologies reports wider 1H lossThursday, 23 February 2017, 8:49 amArticle: BusinessDesk |
Wednesday 22 February 2017 03:02 PM
Living Cell Technologies reports wider 1H loss
By Rebecca Howard
Feb. 22 (BusinessDesk) - Living Cell Technologies, the ASX-listed biotech company with New Zealand-based operations, reported a wider loss in the six months to Dec 31 on increased research and development.
The company said its consolidated operating loss after tax was A$2.1 million versus a loss of A$1.4 million in the same period a year earlier. Its loss per share was 42 Australian cents versus a loss of 34 Australian cents a year earlier. The main reason was increased costs incurred during the clinical trial of Living Cell's NTCELL product to treat Parkinson's disease, as well as the cost of security the supply and manufacture of NTCELL, the company said. Earlier this month it received approval to begin treating six patients in group 3 of the trial at Auckland City Hospital.
This could explain the sharp sell down when we are only days away from completing Phase II trials.
Have informed LCT Public Relations.
