AGI Therapeutics reports interim loss

Dublin based pharmaceutical company AGI Therapeutics has announced a pre-tax loss of $7.46m (€5.2m) for the six months to the end of June 2008. This compares to a loss of $8.9m (€6.2m) the same time last year.

The company, which focuses on gastrointestinal drug products, said its revenues for the six month period were unchanged at $288,000 (€203,828). The company also spent $8.3m (€5.8m) on research and development in the first half of the year.

AGI's CEO John Devane said: "The first six months of 2008 have been dominated by our efforts to ensure that the Phase III programme for RezularTM remains on track as we work to acieve our goal of reporting of clinical data for the ARDIS-1 study in the first half of 2009."