Nxera Pharma forecasts strong commercial progress

Formerly known as Sosei Heptares, the company says it is growing in the clinic with some exciting solutions.

President and CEO Chris Cargill said: “Overall, it is a very exciting time for Nxera and with multiple important commercialisation and development milestones anticipated in the near and medium term, we are confident that we have the right strategy to deliver success and value for our stakeholders as we seek to build a globally competitive next-generation biopharma company.”

Revenue for the six months to June 30 were well ahead to $83.6 million while R & D spend was also higher as the company broadened its scientific discovery reach.

Pre-tax loss was lowered to $20.8m from $27.9m and the company ended the period with healthy cash and equivalents of $316.9 million.

Cargill said growth in Japan was significant and reported that the change in name and subtle flexing of focus had been well received by the markets and Nxera’s customers.