Life sciences group ValiRx (LON:VAL) has confirmed it expects to release results from the clinical trial of its lead drug in December.
VAL 201 is currently undergoing first-in-man studies on cancer patients, illustrating the strides the group has made in the first half of the year.
VAL101, developed from the company's GeneICE gene silencing platform, continues to show good progress in the pre-clinical phase, ValiRx said.
The drug candidate, which is also targeted at cancer, has attracted a second Eurostars grant, this time for up to €1.6mln.
The updates came as ValiRx reported its interim results.
In common with the majority of firms at this stage of development, it was loss-making in the six months to June 30 (to the tune of almost £1.5mln).
However, unlike its peers, it did generate revenues - £103,000 from its Valimedix business that sells screening tests. As of the period-end it was sitting on cash of just under £1.2mln.
Chairman Nicholas Thorniley said: "The company has made some very encouraging progress over the past half year with some excellent advances in our clinical and pre-clinical development pipeline.
“We have also taken the opportunity of further establishing the group's scientific base with internationally respected advisers and research partners.
“These steps forward permit your company an increasingly confident perspective and I also look forward to reporting on the results of our clinical trial, which are anticipated in late December 2013."
