This morning healthcare business Starpharma Ltd (ASX: SPL) reported a net investing and operating cash outflow for the quarter ending June 30 2019 on revenue of $626,000. For the full financial year it reported an investing and operating cash outflow of $10.6 million on revenue of $2.8 million.
The company has $41.3 million cash on hand and launched its VivaGel BV product in Australia over the first half of calendar year 2019.
It also remains in the process of working with the U.S. healthcare regulator the FDA to get its VivaGel BV product approved in a the potentially lucrative US healthcare market that is by far the world's largest. Elsewhere it is processing applications to sell the product in Canada, Israel and India.
It also has VivaGel condom products for sale in Australia and Canada, with first sales achieved in Japan over the period.
Other irons in its fire include three clinical programs to commercialise its dendrimer technology. Some of the programs are partnering with pharmaceutical giant AstraZeneca where it has the possibility of achieving milestone payments.
The shares are 3.5% higher to $1.39.
