Ark provide trading update
Ark Therapeutics Group has provided a trading update. It stated that continued good progress has been made in all sectors of the business with further significant milestones having been achieved, most notably the receipt of good manufacturing practice certification for gene based medicine production at a facility in Finland, which allows progress in Ark\'s application for marketing approval under exceptional circumstances for a new brain cancer product, Cerepro.
Ark Therapeutics Group has provided a trading update. It stated that continued good progress has been made in all sectors of the business with further significant milestones having been achieved, most notably the receipt of good manufacturing practice certification for gene based medicine production at a facility in Finland, which allows progress in Ark's application for marketing approval under exceptional circumstances for a new brain cancer product, Cerepro.
Expenditure has been kept to budget and the company's balance sheet remains strong, with approximately £47m cash at the end of the year.
UK sales of Kerraboot have shown a steady upward trend with some slowing over the Christmas period, while weekly-based ordering remained volatile, as predicted in the interim results. Progress has also been made with wholesaler negotiations, with all three main UK wholesalers now stocking and regularly placing orders. Kerraboot has also been selected for inclusion in the new NHS framework agreement for the provision of advanced wound care products to hospitals throughout England.
Furthermore, manufacturing of Cerepro has commenced; Phase III recruitment of Vitor is expected to be completed shortly; Trinam is making 'steady progress', and the Phase II study of EG005 has been completed, with recruitment and compassionate use requests continuing.