IN BRIEF: Ananda Developments loss widens as interest bill triples

Ananda Developments PLC - London-based life sciences company focused on the development of ...

Alliance News 30 October, 2024 | 12:15PM
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Ananda Developments PLC - London-based life sciences company focused on the development of cannabinoid-based therapies for complex inflammatory pain conditions - Pretax loss for the six months that ended July 31 widens to GBP1.2 million from GBP989,893 a year before. Revenue remains insubstantial. This widened loss was driven by interest payments more than tripling to GBP144,129 from GBP44,412 the year before, and depreciation also more than tripling to GBP315,808 from GBP101,025. The company added that the loss was also "made up of expenses related to the pursuit of our clinical trials".

Ananda's lead investigative asset, MRX1, showed "significant" cardioprotective effects in a study on mice in June with Robert Gordon University, demonstrating its potential for the treatment of heart failure with preserved ejection fraction. Ananda has included this data in its international patent application for the treatment. Its MRX1 cannabidiol formulation is currently being used in two fully-funded phase 2 randomised controlled trials into chemotherapy-induced nerve pain and endometriosis.

Current stock price: 0.32 pence, on the Aquis Exchange on Wednesday morning

12-month change: up 18%

By Emily Parsons, Alliance News reporter

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Security Name Price Change (%) Morningstar
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Ananda Developments PLC Ordinary Shares 0.32 -

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