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Healthcare intellectual property investor NetScientific booked a full-year loss as its portfolio companies invested more in R&D.
Pre-tax losses for the year through December amounted to £3.6m, compared to losses of £4.1m on-year.
Cash at at headquarters and portfolio companies at year end was £3.5m.
'The company's strategy remains to seek to maximise shareholder value from its core and other portfolio companies, which continue to perform and are making progress,' chief executive Ian Postlethwaite said.
'During 2019, the company carried out a review of all areas and significantly reduced the central function costs and headcount back to the essentials, thereby extending the company's cash runway and using as much of the remaining cash as possible to maximise the value of the portfolio companies.'
At 1:58pm: (LON:NSCI) Netscientific Plc share price was -1.5p at 6.5p