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Intercytex spreading itself too thin for a small company?


Intercytex H1 pretax loss widens but optimistic on product potential

LONDON (Thomson Financial) - Intercytex Group plc (LSE: ICX.L - news) reported a wider first-half pretax loss on higher research and administrative
expenses but said positive efficacy data on all its regenerative medicine products gives its ‘great optimism’ for their commercial potential.

The cell therapy company’s pretax loss for the six months to end-June came in at 6.04 mln stg compared with a loss of 4.04 mln stg in the year-earlier period.

The company said preliminary data from a Phase II trial of its Vavelta facial rejuvenation product shows encouraging efficacy data and a good safety profile, adding that it has started second Vavelta trial in acne scars.

Intercytex also said it has completed recruitment for Phase II trials in the UK in diabetic foot ulcers and expects to announce results in the first half of 2008.