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Sensyne Health has reported total revenues of £2.3m for the six months to the end of October 2020, in its interim results statement published today (Thursday 21 January).
The company also confirmed that it has completed a £27.5 million fundraise post period end in January 2021 that is expected to enable it to industrialise its data analytics capability, enter into an exclusive strategic collaboration with Phesi and strengthen its balance sheet for future partnering discussions.
The results showed total research and development expenditure of £7.7m, of which £0.3m was capitalised for the six months ended 31 October 2020 (HY20: £5.4m, of which £0.2m was capitalised).
Adjusted operating loss from continuing operations was £9.5m for the period, while cash used in operations was £12.5m.
Lord (Paul) Drayson, CEO of Sensyne Health, commented: 'I am pleased to report that Sensyne has made significant commercial progress over the past six months and has achieved several key milestones in the development of its research partnerships with NHS Trusts and in its work for leading pharmaceutical companies applying Clinical AI to improve patient care and accelerate life sciences research. I am particularly pleased with the results we have been able to achieve during the COVID-19 pandemic.
He added: 'In January we completed a £27.5 million fund-raising, signed an important strategic collaboration with Phesi Inc and in December launched our GDm-Health product in the United States. We have made a strong start to the New Year and are well placed to build on this momentum in 2021.'
At 9:06am: (LON:SENS) Sensyne Health Plc Ord 10p share price was 0p at 119p