e-Therapeutics - The benefits of partnerships and cost control

Edison Investment Research - Pharmaceuticals & healthcare - e-Therapeutics: e-Therapeutics' (ETX) FY19 results demonstrated continued financial prudence and its focus on partnering, out-licensing and non-dilutive financing. The FY19 operating loss was £5.1m, which is the same as our estimate. The cash outflow was £3.7m, resulting in a cash balance of £5.9m at the end of FY19. Both R&D and administrative expenses had been reduced from FY18 and the recently announced Novo collaboration generated £0.04m in FY19.

ISIN: GB00B2823H99

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