Arecor lets Tetris go as revenue rises

A full-year 2024 trading update for Arecor Therapeutics shows revenue was up to £5.1million (2023: £4.6m) while cash and cash equivalents of £6.8m in 2023 dipped to £3.3m by 31 December, 2024.

This included contributions from the royalty stream associated with the commercialised product AT220, revenues from Arecor’s multiple partnered programmes, and Tetris Pharma sales.

Sarah Howell, Arecor CEO and executive director, said: “Arecor is focussed on transforming patient care by bringing innovative medicines to market. As such, we are focused on R&D opportunities where there are significant unmet patient needs that we can address, in high value markets.”

The Tetris Pharma contribution won’t be - can’t be - repeated in 2025. Arecor’s strategic review of Tetris resulted in an announcement of an orderly cessation of activities in January. Tetris and its ready-to-use glucagon auto-injector pen for severe hypoglycaemia, Ogluo, will be returned to Xeris BioPharma Holdings, Inc by mutual agreement. Arecor cited lowered margins and timeline challenges for its updated rationale.

“We are particularly excited by the prospects of AT278, our unique ultra-concentrated, ultra-rapid acting insulin,” noted Dr Howell, “and also our prospects of developing a game-changing technology platform for the oral delivery of peptides, on the back of early initial positive data.

“We are well positioned for future success and remain confident in our prospects having now streamlined our focus to fully pursue opportunities for Arecor that drive significant value creation for shareholders."