Pharmaxis Limited (ASX:PXS) expects to narrow its net loss by 16 per cent in the full 2012 financial year.
The specialist pharmaceutical company’s preliminary report posted an annual net loss of $38.6 million, down from $45.8 million the year before.
Revenue from ordinary activities has grown 85 per cent to $8.3 million over the 12 months to June 30, 2012.
Pharmaxis develops and commercialises new therapies for undertreated respiratory diseases, with its products available worldwide.
In the first half of the 2012 financial year Pharmaxis reported a net loss of $19.5 million.