Verseon losses widen as VE-1902 trials continue

8th Aug 2018 09:21

(Sharecast News) - Pharmaceutical company Verseon said interim losses widened 15.9% to $10.2m as the US-based firm's operating expenses increased 7.37%.On a per share basis, losses widened 16.6% to 0.06p each.Throughout the half, Verseon closed a $22.7m mortgage for its research and development facility in California, realising a portion of the value created through the buildout.The AIM-listed firm said it was currently evaluating a range of non-dilutive funding options linked to future revenues, which would enable it to accelerate the development of its programmes through clinical trials to market, capturing "significant" long-term value.Verseon noted that VE-1902, one if its precision oral anticoagulants, had been well tolerated and showed no signs of genotoxicity or QT prolongation during a recent 28-day repeat dosing trial.Verseon shares were down 2.46% to 135.09p.