Arecor Therapeutics PLC (GB:AREC) has released an update.
Arecor Therapeutics PLC, a biopharmaceutical company, has announced its need for additional funding by Q3 2024 due to accelerated working capital requirements and increased costs, despite expecting revenues for 2024 to align with market expectations. The company is exploring cost mitigation strategies and continues to evaluate its revenue and costs, emphasizing potential licensing deals and sales growth. Additionally, Arecor has highlighted the success of its diabetes treatment, AT278, and plans to further its value through a strategic insulin pump study.
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