Skip to main content

Losses widen but strategic refocus will deliver cost savings

Losses widen but strategic refocus will deliver cost savings

Drug development company Redx Pharma has seen its half year losses widen to £10.7m but says a strategic refocus of the business is expected to deliver annual cost savings of almost half that amount in the future. The company, which is moved its headquarters from Liverpool to Alderley Park in Cheshire towards the end of last year, saw its losses increase from £7.1m for the same period last year. In March Redx announced it was cutting staff numbers by 60%, following a change in strategy to focus more on pipeline development than…

See the article in full at TheBusinessDesk.com