- Pharmaceutical company Starpharma saw its revenue drop 45 per cent during the 2019 financial year
- The company’s VivaGel technology is now licensed in 160 countries
- Positive results have been recorded during the company’s DEP clinical trial, assessing the drug delivery’s efficiency in enhancing cancer treatments
- Starpharma’s share price is up 0.88 per cent today. Shares are currently worth $1.15 each
Pharmaceutical company Starpharma saw its revenue and profits slip during the 2019 financial year.
Revenue is down 45 per cent, which the company attributes to inconsistent milestone payments from the previous financial year, regarding its licensing of products.
Starpharma’s losses went from $10.3 million to $14.25 million between 2018 and 2019. According to the company, this is due to patenting, research and development costs.
The company’s VivaGel technology is used in a range of womens sexual health products. It works as an antiviral and blocks bacteria.
The Viva Gel BV product, which targets treatment & prevention of bacterial vaginosis, has been licensed in 160 countries and more launches and approvals are expected in the coming months.
CEO of Starpharma Dr Jackie Fairley said: “We also negotiated an attractive licensing deal for VivaGel BV in the US with specialty pharmaceutical company, ITF Pharma, Inc.”
Shareholders received no dividend payments during the financial year.
In other news today, Starpharma has provided shareholders with an update on its dendrimer drug delivery DEP technology. DEP can be used when taking other medications to enhance them.
The DEP technology is being used in two clinical trial, assessing its benefits in improving cancer treatments. DEP cabazitaxel and DEP docetaxel have shown signs of reducing bone marrow toxicity and other common symptoms.
Dr Fairley mentioned DEP irinotecan, another cancer treatment drug, has recently been added to the clinic.
Despite its losses, Starpharma’s share price is up 0.88 per cent today. Shares are currently worth $1.15 each, as of AEST 12:52 pm.