The Finals to June 2024 reported increased operating losses at £4.6m (FY23:£4.0m),mainly reflecting the continued higher level of R&D investment which successfully completed the Phase 1 clinical trial of SDC1801, its lead candidate, in the autoimmune disease programme. The next development stages could be less costly as no clinical trials are currently scheduled, we therefore anticipate a reduced operating loss for June 2025 with net cash of c. £1.9m. The focus remains on developing the next gen ....