Shares in Redx Pharma (REDX) jumped 17 per cent on news the pharmaceutical development company has reached the pre-clinical development stage of a drug that could be used to fight the superbug MRSA. The discovery was hailed as a significant milestone for Redx's commercial partnership with the NHS, and means three of the company's development programs have identified new drug candidates since January.
The NHS collaboration, formed in 2013 to combat the growing threat of drug-resistant bacteria, will now test the drug's efficacy in pre-clinical trials, ahead of anticipated commercialisation.
Prior to this news, house broker Shore Capital was forecasting a pre-tax loss of £4.9m in the year to September 2015, equivalent to an 8.1p loss per share.
