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Faron Pharmaceuticals narrowed annual pre-tax losses on lower research and development costs.
For the year ended 31 December 2019, pre-tax losses narrowed to €13.3m from €20.1m on-year.
The R&D costs decreased by €6.3m from €16.5m in 2018 to €10.2m in 2019, with the costs of outsourced clinical trial services falling by €3.4m from €5.3 to €1.9m. The cost of materials and services used in the R&D was reduced by €1.7m from €7.3 to €5.6m.
At 9:50am: (LON:FARN) Faron Pharmaceuticals share price was +60p at 440p