Clinical-stage biotherapeutics company PureTech Health plc (PRTC,PRTC.L) reported Wednesday that its first-half loss before tax widened to $55.03 million from last year's loss of $13.74 million.
Net loss attributable to the owners of the group was $41.77 million, compared to loss of $25.00 million a year ago. Loss per share was $0.15, wider than loss of $0.09 a year ago.
Operating loss, however, narrowed to $66.40 million from prior year's loss of $76.16 million.
Operating expenses for the six months were $66.7 million, down from $79.3 million last year.
Total revenue was $288 thousand completely from grant revenue, down from last year's $3.15 million that included contract revenue and grant revenues.
The company noted that consolidated Cash, cash equivalents and short-term investments as of June 30 were $500.4 million, compared to $327.1 million as of December 31, 2023.
PureTech Level Cash, cash equivalents and short-term investments as of June 30 were $400.6 million, compared to $326.0 million at fiscal 2023 end.
PureTech expects to have PureTech Level Cash, cash equivalents and short-term investments of approximately $330 million at December 31, 2024. As of June 30, 2024, the company maintains an expected operational runway of at least three years.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.