Biotech firm OctoPlus was hit hard by investors on Friday after it emerged the company has not yet raised new capital to finance expensive research into drugs, including one to treat hepatitis C.
The company, launched on the stock exchange in 2006, has just €2.5m left of the €20m raised at its IPO. ‘We are talking to our shareholders and we are getting positive signs,’ CEO Joost Holthuis was reported as saying by ANP.
OctoPlus also said on Friday that its net loss rose by 75% last year to €15m while turnover fell 14%.
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