The Starpharma Holdings Limited (ASX: SPL) share price rose 3% after giving its June 2019 trading update.
Starpharma describes itself as a world leader in the development of dendrimer enhanced products (DEP) for pharmaceutical, life science and other applications. A dendrimer is a type of synthetic nanoscale polymer that is highly regular in size and structure and well suited to pharmaceutical and medical uses. The company, based in Melbourne, has two core development projects VivaGel portfolio and DEP drug delivery with several other products also being developed internally.
Starpharma’s June 2019 Trading Update
The company reported that the net operating and investing cash outflows for the quarter was $3.5 million. The net cash-burn for the financial year was $10.1 million, compared to $9.9 million last year.
Starpharma finished with $41.3 million of cash at June 2019, but the cash balance does not include the $0.7 million milestone payment from Mundipharma, which was received in July.
The cash outflows for the quarter included the manufacture of VivaGel BV to support its launch in Australia & Europe (including Germany), and expenditure on Starpharma’s three DEP clinical programs.
Starpharma has signed a development and option agreement with AstraZeneca to progress development of a DEP version of one of AstraZeneca’s major marketed oncology medicines.
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.