IN BRIEF: Cardiogeni swings to loss as Daiichi Sankyo deal drops away
Cardiogeni PLC - Stratford-Upon-Avon, England-based developer of cell therapy medicines to treat heart failure - Swings to pretax loss of £532,906 in the six months that ended September 30 from a profit of £1.0 million in the full financial year that ended March 31. Cardiogeni booked no revenue in the recent half-year, compared to £7.8 million in the full-year to March. The Cardiogeni explains that the full-year financial 2025 profit and revenue came from the remaining accrued revenue from its collaboration with Tokyo-based Daiichi Sankyo Co Ltd, which has ended.
Cariogeni has £382,124 in cash as of September 30, steady with £359,759 on March 31. It is in ‘advanced discussions’ for a $25 million funding agreement for Cardiogeni (UAE) Ltd, and this is expected to be completed by the end of January. The company is preparing for a phase IIb/3 study of its heart treatment in the first quarter of 2026 at clinics in the UAE.
Current stock price on AQSE in London: quoted at 7.00 pence, last traded at 4.00p
12-month change: down from 60.00p
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