AB Science Reports Mid-2024 Financial Results and Clinical Developments

AB Science has released its financial results for the first half of 2024, alongside updates on key clinical activities. The company experienced a 59.5% reduction in its operating deficit, amounting to €3.6 million, compared to the same period in 2023. This was primarily due to reduced research and development expenses and increased sales of its veterinary medicine.

Clinically, masitinib remains a focal point of their development, with updates on its applications in conditions such as ALS, multiple sclerosis, and COVID-19. Notably, the company is seeking a re-examination from both the EMA and Health Canada after receiving a negative opinion and a Notice of Deficiency-Withdrawal for ALS treatment. Progress continues with masitinib showing promising results in various studies.

AB Science also reported a successful capital increase, raising €5 million, which will support its operations for the next year. The company strengthens its intellectual property, securing a new patent for masitinib in Europe.