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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Clarify Pharma PLC | AQSE:PSYC | Aquis Stock Exchange | Ordinary Share | GB00BMCD8M81 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.125 | 0.10 | 0.26 | 0.18 | 0.125 | 0.18 | 0.00 | 16:29:52 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2023 to Apr 2024
TIDMPSYC
RNS Number : 9141A
Clarify Pharma PLC
30 May 2023
Press Release
30 May 2023
Clarify Pharma PLC
("Clarify Pharma" or "The Company")
Full Year Results
Clarify Pharma (AQSE: PSYC), an investment vehicle specialising in biotech and life sciences companies seeking to prove the safety and efficacy of psychedelic-based substances, announces its audited financial results for the twelve months ended 30 November 2022.
The Company is an Investment Company and has not divested any of its investments since IPO and continues to hold its one private investment: Beckley Psytech Ltd.
During the year the Company invested further into the sector by taking equity positions in two NASDAQ-listed companies; Atai Life Sciences (ATAI) and Compass Pathways (CMPS) which the Directors feel represent opportunities to increase the Company's exposure to the sector.
Outlook:
Whilst the psychedelic-focused biotech and life sciences sector has not generated attractive returns in the period, the Directors believe that the market fundamentals suggest the sector will develop significantly along with the regulatory environment.
Commenting on the results, Jonathan Bixby, Executive Director of Clarify Pharma, said: "Within the twelve months prior to 30 November 2022, Clarify Pharma increased exposure to the sector by investing in listed companies. We remain confident that our early-stage investment in Beckley Psytech Ltd will generate attractive returns. We look forward to the continued growth of confidence among investors in this nascent sector."
The directors of Clarify Pharma plc accept responsibility for this announcement.
The Company's audited financial results for the 12-month period to 30 November 2022 can be found at https://www.clarifypharma.com/investors
This announcement may contain "forward-looking" statements and information relating to the Company. These statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. The Company does not undertake to update forward--looking statements or forward--looking information, except as required by law.
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
For further information please contact:
Hot Features
Premium
Clarify Pharma
Jon Bixby via First Sentinel
Executive Chairman
-------------------
First Sentinel
-------------------
Corporate Adviser
Brian Stockbridge +44 7876 888 011
-------------------
About Clarify Pharma PLC:
Listed on the Aquis Stock Exchange in London, Clarify Pharma is an investment vehicle focusing on investing in biotech and life sciences companies seeking to prove the safety and efficacy of psychedelic based substances. The Company looks to identify investment opportunities in the life sciences sector within the UK, Canada and other growing markets, with the objective of generating long-term capital growth and building investments in an R&D pipeline of companies which are discovering, developing, or deploying safe and evidence-based psychedelic inspired medicines and experiential therapies that alleviate mental health problems and enhance wellbeing. The Company's Directors have an established track record, experience and networks in the psychedelic, cannabinoid and media industries, to drive value creation. www.clarifypharma.com
STATEMENT OF COMPREHENSIVE INCOME
Audited Restated
Year ended Year ended
30 November 30 November
2022 2021
GBP'000 GBP'000
Continuing Operations
Revenue - -
Administrative expenses (914) (1,293)
Capital loss on investments (97) -
Operating loss (1,011) (1,293)
-------------------------------------------------------------------------------------- ------------- -------------
Loss before taxation (1,011) (1,293)
-------------------------------------------------------------------------------------- ------------- -------------
Taxation - -
Loss after taxation (1,011) (1,293)
-------------------------------------------------------------------------------------- ------------- -------------
Other comprehensive income 5 24
Total comprehensive loss for the year attributable to shareholders from continuing
operations (1,006) (1,269)
-------------------------------------------------------------------------------------- ------------- -------------
Basic earnings per share - pence (0.34) (0.59)
Dilutive earnings per share - pence (0.34) (0.59)
-------------------------------------------------------------------------------------- ------------- -------------
FINANCIAL STATEMENTS
Audited Restated
As at As at
30 November 2022 30 November 2021
GBP'000 GBP'000
NON-CURRENT ASSETS
Investments 946 528
TOTAL NON-CURRENT ASSETS 946 528
------------------------------ ------------------ ------------------
CURRENT ASSETS
Cash and cash equivalents 435 1,524
Trade and other receivables 90 508
TOTAL CURRENT ASSETS 525 2,032
------------------------------ ------------------ ------------------
TOTAL ASSETS 1,471 2,560
------------------------------ ------------------ ------------------
CURRENT LIABILITIES
Trade and other payables 62 147
TOTAL CURRENT LIABILITIES 62 147
------------------------------ ------------------ ------------------
TOTAL LIABILITIES 62 147
------------------------------ ------------------ ------------------
NET ASSETS 1,409 2,413
============================== ================== ==================
EQUITY
Share capital 297 297
Share premium 2,810 2,810
Share based payment reserve 575 575
Fair value reserve 2 -
Retained earnings (2,275) (1,269)
TOTAL EQUITY 1,409 2,413
------------------------------ ------------------ ------------------
Share based Fair value Retained
Share Capital Share Premium payment reserve reserve Earnings Total Equity
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Balance at 30 - - - - - -
November 2020
----------------- -------------- -------------- ---------------- ---------------- ---------------- -------------
Loss for period - - - - (1,293) (1,293)
Other
comprehensive
income - - - - 24 24
Total
comprehensive
income for year - - - - (1,269) (1,269)
Transactions
with owners
Ordinary shares
issued 297 2,951 - - - 3,248
Broker warrants
issued - 61 575 - - 636
Share Issue
Costs - (202) - - - (202)
Transactions
with owners 297 2,810 575 - - 3,682
----------------- -------------- -------------- ---------------- ---------------- ---------------- -------------
Balance at 30
November 2021 297 2,810 575 - (1,269) 2,413
================= ============== ============== ================ ================ ================ =============
Loss for period - - - - (1,011) (1,011)
Other
comprehensive
income - - - - 5 5
Total
comprehensive
income for year - - - - (1,006) (1,006)
Transactions
with owners
Fair value
adjustment on
investments - - - 2 - 2
Transactions
with owners - - - 2 - 2
----------------- -------------- -------------- ---------------- ---------------- ---------------- -------------
Balance at 30
November 2022 297 2,810 575 2 (2,275) 1,409
================= ============== ============== ================ ================ ================ =============
Audited Restated
Year ended Year ended
30 November 2022 30 November 2021
GBP'000 GBP'000
Cash flow from operating activities
Loss for the financial year (1,006) (1,269)
Adjustments for:
Share based payments - 636
Settlement of fees through issue of equity 204
Foreign exchange movements (5) (24)
Capital loss on investments 97 -
Changes in working capital:
(Increase) / decrease in trade and other receivables 166 (508)
Increase / (decrease) in trade and other payables (37) 147
Net cash outflow from operating activities (581) (1,018)
Cash flows from investing activities
Investments - additions (650) (504)
Investments - disposals 142 -
Net cash flow from investing activities (508) (504)
------------------------------------------------------- ------------------ ------------------
Cash flows from financing activities
Proceeds from issue of shares - 3,248
Share issue costs - (202)
Net cash flow from financing activities - 3,046
------------------------------------------------------- ------------------ ------------------
Net increase in cash and cash equivalents (1,089) 1,524
Cash and cash equivalents at beginning of the period 1,524 -
Cash and cash equivalents at end of the period 435 1,524
------------------------------------------------------- ------------------ ------------------
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END
NEXXKLLLXELZBBZ
(END) Dow Jones Newswires
May 30, 2023 02:00 ET (06:00 GMT)
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