Vectus Biosystems Limited (AU:VBS) has released an update.
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Vectus Biosystems Limited reports a 15.9% drop in revenues and a 38.3% decrease in net loss for the fiscal year ending June 30, 2024, with a net tangible asset backing per share reduced to 2.73 cents from 6.62 cents. Despite the loss, the company has made progress in its Phase 1b clinical trials for its lead compound VB0004, aimed at treating fibrosis, and looks to move toward commercialization which may reduce operating costs. Vectus also continues to explore collaborations to advance its other pre-clinical assets targeting hepatic and pulmonary fibrosis.
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