4basebio PLC, an innovation-driven biotechnology company, has announced its unaudited half-year results for the six months ended 30 June 2023. The company reported operational highlights including DNA and Hermes™ revenues exceeding £200k for the half-year, the signing of a supply agreement for the provision of DNA for clinical studies, the announcement of a grant from the Bill & Melinda Gates Foundation, and the filing of three additional patents. Financially, the company reported cash balances of £3.6 million at the end of the period, a loss for the period of £3.6 million, and a net cash outflow from operating activities of £3.0 million.
Dr. Heikki Lanckriet, CEO and CSO of 4basebio, commented on the interim results, stating that the company has seen continued commercial progress since recording its first DNA and Hermes™ revenues in 2022. He highlighted the influx of early-stage projects and the onboarding of multiple clients seeking DNA for their clinical programs. Lanckriet also mentioned the company's progress towards overall GMP certification and its ability to manufacture GMP compliant critical starting material for mRNA and AAV markets. He expressed delight in receiving a grant from the Bill & Melinda Gates Foundation to progress a project focused on the thermal stability of the company's Hermes™ nanoparticle and synthetic DNA payloads.
Lanckriet emphasized that 4basebio remains a technology company, with ongoing innovation and the development of its patent portfolio. He stated that the company continues to invest in its technology platforms and expects to continue this investment in technology, commercial activities, and production capabilities for the remainder of 2023.
The company's Chairman's Statement highlighted the progress 4basebio is making in its commercial development and expansion of its technology and product offering. The statement mentioned the increase in revenue momentum, with DNA and Hermes™ sales for the half-year exceeding like-for-like sales for the full year 2022. The company's net loss for the first half of 2023 was expected due to ongoing investment in technology and product commercialization. The statement also mentioned the company's increased headcount and the expansion of its facilities in the UK and Spain.