4D pharma plc (AIM: DDDD), a pharmaceutical company focusing on the development of live biotherapeutics, is pleased to announce the final results for the Group for the year ended 31 December 2017.
Financial highlights for the year:
· Net assets of £69.8 million (2016: £86.5 million)
· Cash and cash equivalents (including cash on deposit) of £50.0 million (2016: £68.8 million)
· Total comprehensive loss after tax of £19.4 million (2016: £10.3 million)
· Adjusted loss per share (basic and diluted) of 26.08 pence (2016: 15.21 pence)
Operational highlights for the year:
· Successful progression of our proprietary clinical programmes in Irritable Bowel Syndrome and Paediatric Crohn's Disease
· Completion of the first clinical trial of the MicroDx diagnostic and patient stratification platform, validating the platform and representing achievement of the initial milestone from the acquisition of 4D Pharma Cork Limited in February 2016
· Data generated in this clinical study demonstrated: our ability to use patient microbiome and metabolite profiles to differentiate IBS subjects from healthy individuals; and the commonalities of the microbiome across all IBS subtypes, supporting the use of Blautix, our Live Biotherapeutic for the treatment of IBS, in all these subgroups
· Development of our intellectual property estate, the largest in the microbiome sector, to help secure and consolidate our leading position in the field, having at year end 207 granted patents and 320 patent applications, from 32 patent families
· Securing GMP certification for the production of Live Biotherapeutics at our development and manufacturing facility in León, Spain, with the potential capacity to run up to 100 million capsules per annum
The Annual Report, together with a notice of the Company's Annual General Meeting, will be posted to shareholders and made available on the Company's website, www.4dpharmaplc.com, by 27 April 2018. The Annual General Meeting will be held on Monday 21 May 2018 at 11 a.m. at the Gridiron Building, 1 Pancras Square, London N1C 4AG.
David Norwood, Chairman of 4D, commented: "I am pleased to be able to announce the Group's final results for the year ended 31 December 2017. The year has seen significant progress towards our goal of producing Live Biotherapeutics as safe and effective therapies. With its upcoming programme of trials, 4D is well placed to deliver meaningful clinical data to support the use of Live Biotherapeutics across multiple indications. I would like thank everyone in the Group for their contribution to the progress we have made in 2017."