Business Week - Anti-cancer drug boosts Antisoma.
Good management, a strong partnership and positive prospects of growth are spurring Antisoma upward as the biopharmaceutical company prepares to report its interim results next Wednesday, writes Adriana Zea.
‘Antisoma has got great management. It’s a good and interesting company that’s going to grow,’ Larissa Thomas, biotech analyst at West LB Panmure told Accountancy Age.
Thomas highlighted the company’s recent partnership agreement with Abbott Laboratories and its license to develop Thioplatin, a platinum based anti-cancer therapy, as key deals.
Although the Abbott agreement was signed during the 2000 financial year, it constitutes the company’s first revenue stream and is a ‘huge deal’, according to Thomas.
The analyst said the agreement supports and enhances Antisoma’s technology.
‘In the long run Antisoma is going to be fine,’ said Thomas, adding: ‘If they wish to continue on their acquisitive trail, they need to raise more cash to bring in products.’
Chartered accountant Raymond Spencer, the company’s finance chief, raised #9m gross last quarter, and reported reduced losses of £1.7m, compared to #2.1m last year.
Antisoma develops and licenses of anti-cancer treatments.
For more information on Antisoma see www.antisoma.co.uk.