Drugs firm AGI unveils €2.3m loss

Speciality pharmaceutical company AGI Therapeutics made a net loss of €2.3m for the half year to the end of June.

AGI focuses on gastrointestinal drug products.

The company was listed on the AIM market of the London Stock Exchange and the IEX market of the Irish Stock Exchange on February 27, raising gross proceeds of €42.5m.

AGI boss Dr John Devane: "The first six months of 2006 was a pivotal period for AGI… We expect the pace to continue in the second half as we build further on the positive clinical results already reported and as we seek to maximise the value of our R&D portfolio."