- Biopharma Starpharma (SPL) has released its interim report and financial results for the 2021 financial year
- The company has a cash balance of $70.3 million, which is up from June 2020 result of $30.1 million
- The reported loss for the half-year was $10.4 million, which is deeper than the previous corresponding period’s $5.9 million result
- Throughout the period, the company developed its antiviral naval spray, VIRALEZE, which is launching in Europe soon
- On the market this afternoon, Starpharma is down 1.87 per cent and is trading at $2.10 per share
Biopharma Starpharma (SPL) has released its interim report and financial results for the 2021 financial year.
The company has a cash balance of $70.3 million, which is up from June 2020 result of $30.1 million.
Over the period, Starpharma received $47 million in net proceeds from an equity placement and share purchase plan.
The reported loss for the half-year was $10.4 million, which is deeper than the previous corresponding period’s $5.9 million result.
Throughout the period, the company completed the development of its antiviral naval spray, VIRALEZE.
The products European dossier was completed and successfully launched in Europe. Manufacturing is now underway with a launch scheduled soon.
Starpharma also achieved Therapeutic Goods Administration (TGA) approval for its flagship treatment VivaGel, a bacterial vaginosis (BV) formulation.
CEO Dr Jackie Fairley says Starpharma has achieved multiple significant
milestones in the recent period and is excited for the year to come.
“We recently registered VIRALEZE in Europe, ahead of our original schedule,” she said.
“The rapid development of this novel product is a significant achievement. We are
seeking to bring VIRALEZE to consumers and businesses as early as possible and
anticipate the product will be available next month,” she added.
On the market this afternoon, Starpharma is down 1.87 per cent and trading at $2.10 per share at 1:13 pm AEDT.