IN BRIEF: Trellus Health reduces cash burn, financing talks continue

Trellus Health PLC - London-based healthcare company - Says its cash runway now extends to early December, after cost-saving measures cut monthly cash burn to around $395,000 from $440,000. Talks continue re a potential equity fundraising to support the next phase of growth but there can be no certainty that any funding transaction will be concluded. No other near-term strategic opportunities have been identified at this time and it is unlikely that any can be identified before early December, Trellus adds. The company remains in late-stage contract talks with a leading global contract research organisation for a mid-stage clinical trial and has secured preferred vendor status with another. It expects to announce at least one new collaboration by the end of November and continues discussions with potential investors over a possible equity fundraising to support its next growth phase.

Current share price: 0.60 pence

12-month change: down 12%

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