4D pharma PLC (AIM: DDDD), a pharmaceutical company focusing on the development of live biotherapeutics, has today announced the final results for the Company and its subsidiaries (together “the Group”) for the year ended 31 December 2016.
Financial highlights for the year:
· Net assets of £86.5 million (2015: £92.7 million)
· Cash and cash equivalents (including cash on deposit) of £68.8 million (2015: £85.4 million)
· Loss after tax of £9.9 million (2015: £7.7 million)
· Loss per share (basic and diluted) of 15.2 pence (2015: 12.6 pence)
Operational highlights for the year:
· Successful phase 1 clinical trial in respect of Blautix, 4D’s proprietary programme for the treatment of Irritable Bowel Syndrome, achieving the primary objective of establishing safety and tolerability
· Analysis of patient data from phase 1 clinical trial showing a positive improvement in patient symptoms over placebo
· Analysis of IBS patient microbiome showing Blautix both stabilises and increases diversity of the microbiome
· Commencement of the phase 1 clinical trial in respect of Thetanix, 4D’s proprietary programme for the treatment of Paediatric Crohn’s Disease
· Acquisition of 4D Pharma Cork Limited (formerly Tucana Health Limited), a start-up company from University College Cork founded to investigate the use of microbiome signatures to aid the diagnosis and treatment of diseases; the year has also seen the successful development of its proprietary diagnostic platform, MicroDx, which uses microbiome signatures to allow patient stratification
· Acquisition of the production assets of Instituto Biomar, S.A. via a newly incorporated Spanish subsidiary, 4D Pharma León, S.L.U., establishing 4D’s own development and manufacturing facility in León, Spain
Following the year end:
· Interim analysis of data generated in the MicroDx clinical trial showing: significant differences between the microbiota profiles of IBS patients and healthy subjects; that microbiota of IBS clinical subtypes are not significantly different (supporting the rationale for Blautix as a therapy for all IBS subtypes); and that MicroDx is able to differentiate IBS patients from healthy subjects based on metabolite profiles
The Annual Report, together with a notice of the Company’s Annual General Meeting, will be posted to shareholders and made available on the Company’s website www.4dpharmaplc.com at a later date. The Annual General Meeting will be held on Friday 26 May 2017 at 1 p.m. at the Gridiron Building, 1 Pancras Square, London N1C 4AG.
David Norwood, Chairman of 4D, commented: I am pleased to be able to announce the Group’s final results for the year ended 31 December 2016. The year has seen substantial and critical advances towards our goal of producing Live Biotherapeutics as safe and effective therapies: successfully concluding our first clinical trial; generating supportive clinical data; establishing our proprietary diagnostic platform; and acquiring our own development and manufacturing facility. I would like thank everyone in the Group for their contribution to the advances we have made in 2016.