Dublin-listed pharmaceutical company Open Orphan has reported an operating loss of £5m for the six months to the end of June but said its business outlook has never been stronger.
Open Orphan said its half year revenues came in at £7.1m as it continued to focus on delivering larger contracts.
Open Orphan said it had completed the acquisition of hVIVO for about £13m in equity in January.
Open Orphan (LON:ORPH) was founded in 2017, with the goal of rapidly building Europe’s leading pharma services company by a management team with extensive industry and financial expertise. The company comprises of two commercial specialist CRO services businesses (Venn Life Sciences and hVIVO) and is also developing a genomics data platform business (Genomic Health Data).