Oryzon reduces its losses by 26% until September and places them at 1.93 million

MADRID, 2 Nov.

Oryzon reduces its losses by 26% until September and places them at 1.93 million

MADRID, 2 Nov. (EUROPA PRESS) -

Oryzon Genomics recorded a net loss amounting to 1.93 million euros during the first nine months of this year, 26% less compared to the 'red numbers' registered in the same period of the previous year, as a result of a reduction of operating costs, as reported this Thursday by the company to the National Securities Market Commission (CNMV).

The company has underlined that this result is consistent with the specificity of the biotechnology business model, in the development phase in which the firm is, with a long-term maturation period for its products, and without recurrences since income perspective.

Between January and September, income related to work carried out for its own fixed assets at the end of the third quarter of 2022 amounted to 11.3 million euros, above the 7.7 million euros of a year earlier.

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