(News Bulletin 247) – The medical biotechnology company TheraVet ended the first half with cash of 1.7 million euros, against 3.5 million euros a year earlier, an amount sufficient to cover the financing of activity until the end of the second quarter of 2024.
The net loss of the Walloon company – specializing in the management of osteoarticular diseases in pets – was reduced to 905,000 euros over the first six months of the year, against a shortfall of 1.1 million euros a year earlier.
In a reaction note, analysts at Invest Securities point out that these half-year results were marked by a sharp reduction in investment expenditure (-45%).
“The reduction in Opex reflects the transition made from the development phase with a sharp drop in R&D costs (-40%) to that of marketing,” explains the design office.
Invest Securities points out that the half-year turnover increased by 29%, but that at 55,000 euros, it is still ‘very limited’.
Listed on the Paris Stock Exchange, TheraVet shares changed little (-0.4%) on Wednesday after the publication of these results.
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