Arecor cash burn doubles in a year

That was despite total revenue increasing to £5.1m from £4.6m. The Aim-quoted company’s share price fell slightly and was hovering worryingly close to the 52-week low on the news.

CEO Dr Sarah Howell said: “Arecor is focused on transforming patient care by bringing innovative medicines to market. As such, we are focused on R & D opportunities where there are significant unmet patient needs that we can address, in high value markets.

“We are particularly excited by the prospects of AT278, our unique ultra-concentrated, ultra-rapid acting insulin and also our prospects of developing a game-changing technology platform for the oral delivery of peptides, on the back of early initial positive data.

“We are well positioned for future success and remain confident in our prospects having now streamlined our focus to fully pursue opportunities for Arecor that drive significant value creation for shareholders.”

The company says is in advanced negotiations for a co-development deal to further develop AT278 in a next-generation insulin pump which, in Arecor’s words: “presents a unique opportunity to improve the future management of diabetes and generate significant value for Arecor.”