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Merrion's losses double as loan charge takes toll.
- Article from:
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Irish Independent (Dublin, Republic of Ireland)
- Article date:
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April 25, 2008
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Copyright informationCOPYRIGHT 2008 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Merrion's losses double as loan charge takes toll
Merrion Pharmaceuticals, the specialist in orally administered drugs which floated on Dublin's IEX late last year, has reported an increase in its operating losses in the year end to December 2007 to '5.93m, compared with just over '3m in the nine months to the end of December 2006. The pre-tax loss figure for the year was '12.08m. This included a non-cash non-recurring finance expense principally arising on convertible loan stock of '6.6m, the company said yesterday.
Commenting on the results, CEO John Lynch said: "This solid progress allows us to continue to advance our clinical programmes for those products which ...
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