Summary by Futu AI
TC BioPharm (Holdings) PLC, a clinical-stage biopharmaceutical company, reported financial results for the fiscal year ended December 31, 2023. The company has not generated revenue from product sales and does not expect to do so until regulatory approvals are obtained for their product candidates. Operating expenses for the year totaled £14.2 million, with research and development expenses accounting for £7.8 million, primarily due to increased work on unmodified cell therapy programs. Administrative expenses decreased by 8% to £6.5 million, mainly due to lower share-based compensation expense and legal fees. The company reported a net loss of £5.9 million for the year, compared to a net loss of £1.3 million in the previous year. The increased loss was attributed to a decrease in revenue from collaboration agreements...Show More