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Pharmaceutical company 4D Pharma reported wider losses on higher research and development costs.
For the year ended 31 December 2019, pre-tax profit widened to £29.4m from £28.4m on-year and the company recorded a revenue of £0.2m.
Research and development costs rose to £26.5m from £24.9m on-year.
Looking ahead, the company estimated that cash held by the group, together with known receivables, would be sufficient to support the current level of activities until fourth quarter of 2020.
'The directors are continually exploring sources of finance available to the group and have a reasonable expectation that they will be able to secure sufficient cash inflows for the group to continue its activities for not less than twelve months from the date of approval of the accounts. They have therefore been prepared on a going concern basis,' the company said.
'Because the additional finance is not committed at the date of approval of the financial statements, these circumstances represent a material uncertainty as to the group's ability to continue as a going concern,' it added.