Sareum annual loss narrows as advances lead autoimmune drug
Sareum Holdings PLC on Monday reported a narrower loss as the company prioritised completion of development work on its lead drug candidate.
The Cambridge, England-based clinical-stage biotechnology company said pretax loss for the year ended June 30 narrowed to £3.5 million from £4.9 million a year earlier.
The company recorded no revenue, unchanged year-on-year.
Sareum had cash of £1.2 million at June 30, down from £3.5 million a year earlier.
The company highlighted the completion of dosing in the phase 2-enabling toxicology programme for SDC-1801 in July, with topline results expected in the fourth quarter of 2026.
Looking ahead, Sareum said it will continue to prioritise completion of the SDC-1801, its lead autoimmune drug, phase 2-enabling regulatory package and prepare for the end stage of clinical development.
This will include further formulation work and a short human pharmacokinetic study. It also plans to seek partners for SDC-1802 and SRA737 and continue advancing its neuroscience programme.
"With strengthened intellectual property, a balance sheet reinforced by the post-period fundraise, prudent financial management and clear milestones ahead, the Company is confident of delivering further progress in the year to come," the company said.
Sareum Holdings shares were down 0.7% at 15.14 pence each in London on Monday.
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