Share Search
Visit the Share Search
You are here:
Motif Bio reaches settlement with former clinical research organisation
11th Nov 2019 09:40
(Sharecast News) - Motif Bio announced on Monday that its subsidiary Motif BioSciences has reached an agreement with its former clinical research organisation to settle all obligations without further payment.
The AIM-traded firm said that would result in the reversal of a previously-recognised expense, and the reduction of Motif BioSciences' trade payables and accruals by $2.4m.
"This payable and accrual was shown in the year-end 2018 and interim financials and was referenced in Note 7 of the interim financial results for the six months ended 30 June 2019," the Motif Bio board explained in its statement to shareholders.
At 1604 GMT, shares in Motif Bio were up 0.43% at 0.47p.
The AIM-traded firm said that would result in the reversal of a previously-recognised expense, and the reduction of Motif BioSciences' trade payables and accruals by $2.4m.
"This payable and accrual was shown in the year-end 2018 and interim financials and was referenced in Note 7 of the interim financial results for the six months ended 30 June 2019," the Motif Bio board explained in its statement to shareholders.
At 1604 GMT, shares in Motif Bio were up 0.43% at 0.47p.