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Share Name Share Symbol Market Type Share ISIN Share Description
Arecor Therapeutics Plc LSE:AREC London Ordinary Share GB00BMWLM973 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 335.00 320.00 350.00 335.00 335.00 335.00 0.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 1.2 -6.9 -0.3 - 93

Arecor Therapeutics PLC ARECOR PROVIDES BUSINESS UPDATE

20/01/2022 7:01am

UK Regulatory (RNS & others)


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RNS Number : 0219Z

Arecor Therapeutics PLC

20 January 2022

Arecor Therapeutics plc

("Arecor", the "Company" or the "Group")

BUSINESS UPDATE

Momentum continues across partnered and proprietary portfolio

Cambridge, UK, 20 January 2022: Arecor Therapeutics plc (AIM: AREC), a globally focused biopharmaceutical company advancing today's therapies to enable healthier lives, provides a business update and announces that its preliminary results for the 12 months ended 31 December 2021 will be issued during the week commencing 25 April 2022.

The financial performance for the 12 months ended 31 December 2021 was in line with expectations and the Group closed its financial year with a strong cash balance of GBP18.3 million.

Arecor's proprietary portfolio is advancing on track. As announced today, the first patient has been dosed in the US Phase I trial of AT247, Arecor's ultra-rapid insulin for the treatment of diabetes to investigate the product's potential when delivered by continuous subcutaneous infusion via insulin pump. The trial is expected to complete in H2 2022 and builds on an earlier European Phase I clinical study in Type I diabetic patients in which AT247 exhibited an earlier insulin appearance, exposure, and offset, with corresponding enhanced early glucose-lowering effect compared with NovoRapid(R) and Fiasp(R).

The Group also continues to drive growth through its portfolio of collaborations across leading pharmaceutical, medical products and biotech companies. The two exclusive formulation study collaborations signed in Q4 2021 add to the Group's expanding portfolio of revenue generating partnerships and demonstrate the potential of Arecor's Arestat(TM) formulation technology to bring enhanced products to market for partners, simplifying care and improving medicine management. As previously announced, in H1 2022 Arecor expects further progress in its co-development agreement with Hikma to develop a new, ready-to-use (RTU) injectable medicine (AT282), transferring the final formulation to Hikma and triggering a milestone payment.

Arecor is also pleased to announce that the European Patent Office has granted patent EP3496734B, with claims protecting novel compositions of insulin glargine with improved thermostability. This grant further demonstrates the strength of the patent portfolio protecting the Group's proprietary Arestat(TM) technology.

Sarah Howell, Chief Executive Officer of Arecor, said: "The continued business progress reflects the strength of our formulation technology and the role it can play in the development of innovative medicines through the enhancement of existing therapeutic products. In the coming months we very much look forward to advancing both our proprietary pipeline and expanding further our portfolio of partnerships. 2022 has begun with strong momentum across the business and we look forward to further updating the market at our preliminary results."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR)

-ENDS-

For more information, please contact:

 
 Arecor Therapeutics plc                    www.arecor.com 
 Dr Sarah Howell, Chief Executive Officer   Tel: +44 (0) 1223 426060 
                                             Email: info@arecor.com 
 
 Susan Lowther, Chief Financial Officer     Tel: +44 (0) 1223 426060 
                                             Email: info@arecor.com 
 
 Mo Noonan, Communications                  Tel: +44 (0) 7876 444977 
                                             Email: mo.noonan@arecor.com 
 
 Panmure Gordon (UK) Limited (NOMAD 
  and Broker) 
 Freddy Crossley, Emma Earl (Corporate      Tel: +44 (0) 20 7886 2500 
  Finance) 
  Rupert Dearden (Corporate Broking) 
 
 Consilium Strategic Communications 
 Chris Gardner, David Daley, Angela         Tel: +44 (0) 20 3709 5700 
  Gray                                       Email: arecor@consilium-comms.com 
 

Notes to Editors

About Arecor

Arecor Therapeutics plc is a globally focused biopharmaceutical group transforming patient care by bringing innovative medicines to market through the enhancement of existing therapeutic products. By applying our innovative proprietary formulation technology platform, Arestat(TM), we are developing an internal portfolio of proprietary products in diabetes and other indications, as well as working with leading pharmaceutical and biotechnology companies to deliver enhanced formulations of their therapeutic products. The Arestat(TM) platform is supported by an extensive patent portfolio.

For further details please see our website, www.arecor.com

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END

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January 20, 2022 02:01 ET (07:01 GMT)

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