Medaphor losses widen on increased R&D investment

Ultrasound software developer Medaphor warned investors on Monday that losses looked likely to have widened in its last trading year despite improved revenues.

Medaphor, which reported 27% higher revenues of £5.3m to £5.4m, also expected adjusted operating losses to have widened roughly 76% year-on-year to £3m.

The AIM-listed outfit said the loss was principally a result of around £1.5m in research and development expenses stemming from its investment into its clinical artificial intelligence division.

MedaPhor received £4.86m in December as a result of a placing and open offer - giving it a year-end cash balance of £5.5m.

As of 1035 GMT, Medaphor shares had slipped 3.23% to 7.50p.