4D pharma plc (AIM: DDDD), a pharmaceutical company focussing on the development of live biotherapeutics targeting important new therapeutic areas, is pleased to announce the interim results for the Company and its subsidiaries (together "the Group") for the six months ended 30 June 2017.
· Net assets as at 30 June 2017 of £75.3 million (30 June 2016: £92.1 million and 31 December 2016: £86.5 million)
· Cash and cash equivalents and short-term deposits at 30 June 2017 of £59.8 million (30 June 2016: £75.4 million and 31 December 2016: £68.8 million)
· Loss attributable to the owners of the parent undertaking for the six months ended 30 June 2017 of £11.3 million* (30 June 2016: £4.6 million and 31 December 2016: £10.3 million)
· Research and development expenditure for the six months ended 30 June 2017 of £8.3 million (30 June 2016: £4.1 million and 31 December 2016: £10.2 million)
Operational and clinical highlights
· In relation to MicroDx, 4D Pharma Cork's diagnostic platform enabling the stratification of IBS patients, interim analysis of data generated in a clinical study demonstrating the ability to differentiate between IBS patients and healthy volunteers, the commonalities of microbiome across all IBS subtypes, and the ability to differentiate between IBS patients and healthy volunteers based on metabolite profiles
Since the period end
· Completion of the first clinical trial of the MicroDx diagnostic platform, validating the platform and representing achievement of the initial milestone from the acquisition of 4D Pharma Cork Limited in February 2016
* Note: this includes a £3.5 million non-recurring charge in relation to the successful completion of the first milestone for 4D Pharma Cork Limited.
David Norwood, Chairman of 4D pharma, commented: "2017 has seen 4D continue to make significant progress expanding the scope of our research, developing our manufacturing capability and progressing through the clinic towards our aim of delivering live biotherapeutics in a number of exciting disease areas. I would once again like to thank the Board, our employees and our shareholders for their continued support."