Skin treatments developer Syntopix has reduced the cash outflow from its operations in the six months to January 2010.
The interim cash outflow from operations fell from £736,000 to £498,000. The outflow is similar to the level in the second half of last year. Syntopix has reduced its research and development spending.
This leaves Syntopix with net cash of £396,000.
The outflow will have to fall sharply for that cash to last into next year. Syntopix says that it is finalising plans for a share issue. It mentioned the share issue in its 2008-09 figures published in January.
Syntopix continues to work with Procter & Gamble and is talking to other potential partners.
At 74p a share, up 3p on the day, Syntopix is valued at £5.71m.
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