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19 April 2004
Preliminary Results for year ended 31 December 2003
Cyprotex PLC, a drug discovery technology and information company, today reports its preliminary results for the year ended 31 December 2003.
Highlights
- Turnover increased 62% to £1.05 million (For previous 14 months period £0.65 million)
- Pre-tax loss decreased 42% to £2.05 million (For previous 14 month period £3.51 million)
- £0.8 million raised by issue of 4.5 million New Ordinary Shares
- Post year-end placing raised £2.94 million (net of expenses)
- Agreements signed with AstraZeneca, ALTANA, Roche, and Solvay
Commenting on the results, Robert Morrisson Atwater, Chairman and Chief Executive Officer of Cyprotex PLC, said:
"At the beginning of the new financial year we effected a successful Placing which has provided capital that will be used to accelerate our marketing and sales activities in relation to our Cloe range of products as well as fund the acquisition of new equipment and employment of new personnel to deal with the anticipated growth in turnover.
"This year Cyprotex has delivered on a total of 24 revenue generating contracts with 17 companies and we expect further contracts to be delivered in the near future. We have demonstrated the effectiveness of our technology, having received validation from major biotech and pharmaceutical companies that we can deliver high quality products effectively to customers. We look forward to a successful year."
For further information:
Cyprotex PLC
Robert Morrisson Atwater, Chairman & Chief Executive Officer
Tel: +44 (0) 1625 505100
ir@cyprotex.com
www.cyprotex.com
Media enquiries:
Bankside
Henry Harrison-Topham / Heather Salmond
Tel: +44 (0) 20 7444 4140
heather.salmond@bankside.com
www.bankside.com
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