Baldiness

Intercytex Still in the Red

by Bald Man on March 26th, 2007

Inercytex, the UK company working to clone/regenerate human tissue, announced preliminary 2006 financials on Friday.

The company said its loss before tax for the year was £9.2 million, compared to £7.2miliion a year ago. Loss on ordinary activities after taxation was £8.20 million, compared to £6.51 million in the previous year. Loss per share for the year narrowed to 15.0p from 20.6p in the prior year. Operating income reported for the year was £0.83 million. (source)

(American readers: double all the numbers and you’ve got a quick and dirty dollar conversion that are good enough for our purposes.)

Nothing really surprises me here. Intercytex are a new company who’s future are in the research. Now, like all start-ups, they will eventually be expected to turn a profit. So news like this is encouraging:

It expects first sales of its facial rejuvenation product, Vavelta, in 2007 and clinical trial data on all four of its products. (source)

The Medicines and Healthcare Products Regulatory Agency (MHRA) has confirmed that Vavelta (aka ICX-RHY) can be sold in the UK without a marketing authorization, and Intercytex expects the product on shelves in Q2 2007.

additional source

Share This

Related Stories

Intercytex Reviewed by UK Motley Fool
Intercytex Inks 10 Year Deal with BioLife Solutions
Intercytex Raising £12 Million Via Stock
Possible Dirt Behind Intercytex Grant
Intercytex Received $3.5M to Develop Hair Replacement Robot

POSTED IN: Bald Business, Bald Medicine