Hemogenyx loss widens on non-cash options charge despite lower underlying spending

Hemogenyx Pharmaceuticals ($HEMO) reported a first-half pretax loss of £6.56 million, widening from £5.01 million. Reported operating costs increased to £6.48 million, but the company attributed most of the rise to a £5.54 million non-cash share-based payment charge. Excluding that charge, underlying operating expenditure declined. Cash at the period-end was £4.58 million after £5.6 million of gross fundraising during the half.

The financial update provides a clearer view of resources supporting HG-CT-1, its experimental CAR-T treatment for acute myeloid leukemia. The pediatric arm has begun screening and the next adult cohort is scheduled at a higher dose. These remain early clinical activities, not evidence of approval. Potential European hospital-exemption arrangements require further implementation and authorization; they provide neither guaranteed patient volumes nor assured revenue.

Sources:

• Hemogenyx RNS, via London South East