RNS Number : 1085L Incanthera PLC 11 December 2025

RNS 編號：1085L Incanthera PLC2025年12月11日

11 December 2025

2025年12月11日

Incanthera plc

("Incanthera", the "Company" or "Group")

（"Incanthera"、"公司"或"集團"）

HALF-YEARLY RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2025

截至2025年9月30日的半年業績

Incanthera plc, the company focused on innovative technologies in dermatology and oncology, presents its interim results for the six months ended 30 September 2025.

Incanthera plc 是一家專注於皮膚病學和腫瘤學創新技術的公司，現發佈截至2025年9月30日的中期業績。

Highlights

亮點

· Launch of Skin+Cell via Direct To Consumer (DTC) route through dedicated website.

· 通過專門網站推出 Skin+Cell 直接面向消費者（DTC）渠道。

· Investment in establishment of DTC infrastructure and promotional activities.

· 投資建立 DTC 基礎設施和推廣活動。

· Proactive discussions and activities directed at additional routes to market.

· 積極進行討論和活動，尋求其他市場渠道。

Simon Ward, CEO, commented:

首席執行官 Simon Ward 評論道：

"This period has seen the launch of our Skin+CELL skincare range launched globally via our dedicated Direct To Consumer ("DTC") website www.skinandcell.com. Establishing any new brand into a marketplace takes time, however, since launch, we have seen steady increases month on month, in traction across social media, hits to our website and conversion to sales. This is recognised in the positive feedback we have received from all users of the product range, unanimous in its praise on the dramatic effects on their skin, across all demographics.

"這一時期，我們的 Skin+CELL 護膚系列通過專門的直接面向消費者（"DTC"）網站 www.skinandcell.com 在全球推出。建立任何新品牌進入市場需要時間，但自推出以來，我們在社交媒體上的關注度、網站訪問量和銷售轉化率每月穩步增長。這在我們收到的所有用户的積極反饋中得到了認可，大家一致讚揚其對皮膚的顯著效果，涵蓋所有人羣。

We have previously advised that we are actively exploring additional routes to market, alongside the DTC route. Discussions are progressing with a number of parties on potential collaborations and deals.

我們之前已告知，我們正在積極探索除了 DTC 渠道之外的其他市場渠道。與多方的討論正在進行中，探討潛在的合作和交易。

We look forward to updating the market further on these activities."

我們期待進一步向市場更新這些活動的進展。"

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

本公告包含根據英國市場濫用法規的內幕信息，公司董事對本公告的發佈負責。

For further information please contact:

如需更多信息，請聯繫：


Incanthera plc www.incanthera.com Tim McCarthy, Chairman tim.mccarthy@incanthera.com Simon Ward, Chief Executive Officer simon.ward@incanthera.com Suzanne Brocks, Head of Communications suzanne.brocks@incanthera.com	+44 (0) 7831 675747 +44 (0) 7747 625506 +44 (0) 7776 234600
Aquis Exchange Corporate Adviser: Cairn Financial Advisers LLP Jo Turner / Liam Murray / Ed Downes	+44 (0) 20 7213 0880
Broker: Stanford Capital Partners Ltd Patrick Claridge / Bob Pountney	+44 (0) 20 3650 3650/51


Incanthera plc www.incanthera.com Tim McCarthy, 主席 tim.mccarthy@incanthera.com Simon Ward, 首席執行官 simon.ward@incanthera.com Suzanne Brocks, 傳播負責人 suzanne.brocks@incanthera.com	+44 (0) 7831 675747 +44 (0) 7747 625506 +44 (0) 7776 234600
Aquis 交易所企業顧問： Cairn Financial Advisers LLP Jo Turner / Liam Murray / Ed Downes	+44 (0) 20 7213 0880
經紀人： Stanford Capital Partners Ltd Patrick Claridge / Bob Pountney	+44 (0) 20 3650 3650/51

Notes to Editors

編輯註釋

About Incanthera plc

關於 Incanthera plc

Incanthera is a specialist company focused on innovative technologies in dermatology and oncology. It seeks to identify and develop innovative solutions to current clinical, commercially relevant unmet needs, utilising new technology from leading specialists and academic institutions as well as its in-house development team.

Incanthera 是一家專注於皮膚病學和腫瘤學創新技術的專業公司。它旨在識別和開發針對當前臨牀上、商業上相關的未滿足需求的創新解決方案，利用來自領先專家和學術機構的新技術，以及其內部開發團隊。

The Company originated from the Institute of Cancer Therapeutics ("ICT") at the University of Bradford. Incanthera's strategy is to develop each candidate in its portfolio from initial acquisition or discovery to securing its future through commercially valuable partnerships at the earliest opportunity in its development pathway.

該公司起源於布拉德福德大學的癌症治療研究所（"ICT"）。Incanthera 的戰略是將其投資組合中的每個候選產品從初始收購或發現階段發展到通過商業上有價值的合作伙伴關係在其開發路徑的最早機會確保其未來。

For more information on the Company please visit: www.incanthera.com

有關公司的更多信息，請訪問：www.incanthera.com

@incantheraplc

About Skin + CELL

關於 Skin + CELL

Skin + CELL is Incanthera's luxury skincare brand utilising our ground-breaking formulation and delivery expertise, to bring scientifically proven formulations to cosmetics. Skin + CELL's complementary range of products are based on advanced, clinically designed, formulation concentrates which combine leading edge pharmaceutical enhancement technology with selected prestige cosmetic ingredients to give an effective product which gives a silky emollience in use and leaves the skin visibly radiant, energised and protected.

Skin + CELL 是 Incanthera 的奢華護膚品牌，利用我們突破性的配方和交付專業知識，將科學證明的配方帶入化妝品。Skin + CELL 的互補產品系列基於先進的、臨牀設計的配方濃縮物，結合尖端的藥物增強技術與精選的高端化妝品成分，提供有效的產品，使用時具有絲滑的潤膚感，使皮膚看起來光彩照人、充滿活力並得到保護。

Incanthera's new bioactive skincare technology has been developed by our in-house experts who have previously formulated topical products for some of the world's leading skincare and pharmaceutical companies. The formulations fortify otherwise depleted physiological pathways to improve the skin's performance, ability to self-repair and to address previously unmet cosmetic conditions in skin health.

Incanthera 的新型生物活性護膚技術由我們內部專家開發，他們曾為一些全球領先的護膚和製藥公司配製外用產品。這些配方強化了本來被削弱的生理通路，以改善皮膚的表現、自我修復能力，並解決皮膚健康中先前未滿足的美容問題。

Skin + CELL's luxury skincare current range extends across face, body, hand, face serum and eye cream, and will also include bioactive SPF concentrations and further derivatives of vitamins in the future.

Skin + CELL 的奢華護膚系列目前涵蓋面部、身體、手部、面部精華和眼霜，未來還將包括生物活性防曬濃縮物和更多維生素衍生物。

Forward looking statement disclaimer

前瞻性聲明免責聲明

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

本公告中所作的某些聲明為前瞻性聲明。這些前瞻性聲明不是歷史事實，而是基於公司當前的期望、估計和對其行業的預測；其信念；和假設。諸如 “預期”、“期望”、“打算”、“計劃”、“相信”、“尋求”、“估計” 等詞語旨在識別前瞻性聲明。這些聲明並不保證未來的表現，並且受到已知和未知的風險、不確定性和其他因素的影響，其中一些超出了公司的控制，難以預測，可能導致實際結果與前瞻性聲明中表達或預測的結果有重大差異。公司提醒股東和潛在股東不要對這些前瞻性聲明過於依賴，這些聲明僅反映公司在本公告日期的觀點。公告中所作的前瞻性聲明僅與聲明作出之日的事件相關。除法律或任何適當監管機構要求外，公司將不承擔公開發布任何修訂或更新這些前瞻性聲明以反映公告日期後發生的事件、情況或意外事件的義務。

Incanthera plc

HALF-YEARLY RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2025

截至2025年9月30日的半年業績

CEO's Report

首席執行官報告

This period has seen the launch of our Skin+CELL skincare range launched globally via our dedicated Direct To Consumer ("DTC") website www.skinandcell.com and through social media platforms of Instagram, FaceBook and TikTok.

這一時期，我們的 Skin+CELL 護膚系列通過專門的直接面向消費者（"DTC"）網站 www.skinandcell.com 以及 Instagram、Facebook 和 TikTok 等社交媒體平台在全球推出。

Skin+CELL is a unique product. It is a luxury skincare range, which has been created by scientific experts in formulation and delivery technologies and is uniquely capable of effecting cellular repair. The products are aesthetically stunning in look and feel and have demonstrated proven results backed by our own and independent scientific research.

Skin+CELL 是一款獨特的產品。它是一系列奢華護膚品，由科學專家在配方和傳遞技術方面創造，獨特地能夠實現細胞修復。這些產品在外觀和觸感上都令人驚豔，並且通過我們自己的研究和獨立的科學研究證明了其有效性。

That effect is recognised in the positive feedback we have received from all users of the product range, unanimous in its praise on the dramatic effects on their skin, across all demographics.

這種效果在我們收到的所有用户的積極反饋中得到了認可，用户一致讚揚其對皮膚的顯著效果，涵蓋所有人羣。

Establishing any new brand into a marketplace takes time, however, we have seen good initial traction across social media and positive feedback through our website from those consumers who have purchased Skin+CELL with immediate revenues recorded in the six weeks from our August launch to the end of September reporting period.

在市場上建立任何新品牌都需要時間，然而，我們在社交媒體上看到了良好的初步反響，並且從購買 Skin+CELL 的消費者那裏通過我們的網站收到了積極反饋，在從八月發佈到九月底的六週內記錄了即時收入。

We have also seen recent (post balance sheet) sales volumes increasing due to sales and promotions, including a B3Face cream discount and a Black Friday event. This is also influenced by increased traction across social media, hits to our website and subsequent conversion to sales.

我們還看到最近（資產負債表後）由於銷售和促銷，銷售量有所增加，包括 B3Face 面霜的折扣和黑色星期五活動。這也受到社交媒體上增加的關注、我們網站的訪問量以及隨後的銷售轉化的影響。

We have looked at the specific data, which is an invaluable asset, owned by us, to understand from where hits to our site are directed, which product is most popular and location/demographic of the purchaser. The data shows that our most successful marketing is via Instagram and our most successful product is B3 Face.

我們查看了具體數據，這是一項無價的資產，由我們擁有，以瞭解我們網站的訪問來源、最受歡迎的產品以及購買者的地點/人羣。數據表明，我們最成功的營銷渠道是 Instagram，而我們最成功的產品是 B3 Face。

As well as analysing the data from the website, we are collating feedback from consumers on our launch and subsequent roll out. Our next steps are to enhance and amplify the DTC global roll out and look further to brand expansion and innovation.

除了分析網站的數據外，我們還在收集消費者對我們發佈和後續推廣的反饋。我們的下一步是增強和擴大 DTC 全球推廣，並進一步考慮品牌擴展和創新。

Scientific research published in June demonstrates Skin+CELL's unique capabilities, providing independent proof of our technology and firmly underlining the repairing, restoring and positive protective effects of our formulation to bring a unique new approach to skincare, including valuable UV protection data.

2023 年 6 月發佈的科學研究證明了 Skin+CELL 的獨特能力，提供了我們技術的獨立證據，堅定地強調了我們的配方在修復、恢復和積極保護方面的效果，為護膚帶來了獨特的新方法，包括有價值的紫外線保護數據。

Skincare that is scientifically proven to reach below the dermal layer to the cellular structure, to effect real change in restoration and repair truly is skincare for everyone.

經過科學驗證的護膚品能夠深入真皮層，影響細胞結構，真正實現修復和恢復的變化，確實是每個人都適用的護膚品。

我們之前已告知，我們正在積極探索除了 DTC 渠道之外的其他市場途徑。與多方的潛在合作和交易的討論正在進行中。

We look forward to updating the market further on these activities.

我們期待進一步向市場更新這些活動的進展。

Dr Simon Ward

西蒙·沃德博士

Chief Executive Officer

首席執行官

11 December 2025

2025年12月11日

Incanthera plc

HALF-YEARLY RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2025

截至2025年9月30日的半年度業績

Consolidated Statement of Comprehensive Income

綜合收益表

for the six months ended 30 September 2025 - unaudited

截至2025年9月30日的六個月 - 未經審計


		Six months ended 30 September 2025	Six months ended 30 September 2024	Year ended 31 March 2025
		Unaudited	Unaudited	Audited
	Notes	£'000	£'000	£'000
Revenue		6	-	-
Cost of Sales		(1)	-	-
Gross Profit		5	-	-
Direct Costs		(90)	-	-
Operating expenses
Operating expenses		(760)	(654)	(1,783)
Share based compensation	4	(43)	(41)	(214)
Total operating expenses		(893)	(695)	(1,997)
Operating loss		(888)	(695)	(1,997)
Loss on ordinary activities before taxation		(888)	(695)	(1,997)
Other Income		-	75	-
Taxation		-	-	-
Loss and total comprehensive expense attributable to equity holders of the parent for the year	(888)	(620)	(1,997)
Loss per share attributable to equity holders of the parent (pence)
Basic loss per share		(0.69)	(0.57)	(1.77)
Diluted loss per share		(0.69)	(0.57)	(1.77)


		截至2025年9月30日的六個月	截至2024年9月30日的六個月	截至2025年3月31日的年度
		未經審計	未經審計	已審計
	備註	£'000	£'000	£'000
收入		6	-	-
銷售成本		(1)	-	-
毛利潤		5	-	-
直接成本		(90)	-	-
營業費用
營業費用		(760)	(654)	(1,783)
基於股份的補償	4	(43)	(41)	(214)
總營業費用		(893)	(695)	(1,997)
營業虧損		(888)	(695)	(1,997)
税前普通活動虧損		(888)	(695)	(1,997)
其他收入		-	75	-
税務		-	-	-
歸屬於母公司股東的虧損和總綜合費用	(888)	(620)	(1,997)
歸屬於母公司股東的每股虧損（便士）
基本每股虧損		(0.69)	(0.57)	(1.77)
稀釋每股虧損		(0.69)	(0.57)	(1.77)

Consolidated Statement of Financial Position

綜合財務狀況表

as at 30 September 2025 - unaudited

截至2025年9月30日- 未經審計


		Group	Group	Group
		As at	As at	As at
		30 September 2025	30 September 2024	31 March 2025
		Unaudited	Unaudited	Audited
	Notes	£'000	£'000	£'000
ASSETS
Non-current assets
Property, plant and equipment		3	3	3
Intangible assets		7	57	7
Investments in subsidiary undertaking		-	-	-
Total non-current assets		10	60	10
Current assets
Trade and other receivables		595	52	741
Inventory and WIP		868	1,236	869
Current tax receivable		1	-	-
Cash and cash equivalents		215	1,058	80
Total current assets		1,679	2,346	1,690
Total assets		1,689	2,406	1,700
LIABILITIES AND EQUITY
Current liabilities
Trade and other payables		933	505	547
Total current liabilities		933	505	547
Non-current Liabilities
Convertible loan		-	-	-
Total Liabilities		933	505	547
Equity
Ordinary shares	5	2,758	2,338	2,427
Share premium		9,020	8,505	8,903
Reorganisation reserve		2,715	2,715	2,715
Currency Translation reserve		-	(2)	-
Warrant reserve		1,321	1,185	1,294
Other reserves		-	-	-
Share based compensation		407	360	391
Retained deficit		(15,465)	(13,200)	(14,577)
Total equity attributable to equity holders of the parent		756	1,901	1,153
Total liabilities and equity		1,689	2,406	1,700


		集團	集團	集團
		截至	截至	截至
		2025年9月30日	2024年9月30日	2025年3月31日
		未經審計	未經審計	已審計
	備註	£'000	£'000	£'000
資產
非流動資產
房產、廠房和設備		3	3	3
無形資產		7	57	7
對子公司的投資		-	-	-
總非流動資產		10	60	10
流動資產
應收賬款及其他應收款		595	52	741
存貨和在製品		868	1,236	869
應收當前税款		1	-	-
現金及現金等價物		215	1,058	80
總流動資產		1,679	2,346	1,690
總資產		1,689	2,406	1,700
負債和股東權益
流動負債
應付賬款及其他應付款		933	505	547
總流動負債		933	505	547
非流動負債
可轉換貸款		-	-	-
總負債		933	505	547
股東權益
普通股	5	2,758	2,338	2,427
股本溢價		9,020	8,505	8,903
重組準備金		2,715	2,715	2,715
匯率轉換準備金		-	(2)	-
權證準備金		1,321	1,185	1,294
其他準備金		-	-	-
基於股份的補償		407	360	391
留存虧損		(15,465)	(13,200)	(14,577)
歸屬於母公司股東的總權益		756	1,901	1,153
總負債和股東權益		1,689	2,406	1,700

Consolidated Statement of Changes in Equity

綜合權益變動表

for the six months ended 30 September 2025 - unaudited

截至2025年9月30日的六個月 - 未經審計


	Share capital	Share premium	Merger reserve	Warrant reserve	Share based compensation	Currency translation reserve	Accumulated losses	Total
	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000
Balance at 1 April 2025	2,427	8,903	2,715	1,294	391	-	(14,577)	1,153
Total comprehensive expense for the period	-	-	-	-	-	-	(888)	(888)
Transactions with owners
Share issue - investment July 2025	331	117	-	-	-	-	-	448
Share-based compensation - share options	-	-	-	27	16	-	-	43
Total transactions with owners	331	117	-	27	16	-	-	491
Balance at 30 September 2025	2,758	9,020	2,715	1,321	407	-	(15,465)	756


	股本	股本溢價	合併儲備	權證儲備	基於股份的補償	貨幣轉換儲備	累計虧損	總計
	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000
2025年4月1日的餘額	2,427	8,903	2,715	1,294	391	-	(14,577)	1,153
本期的綜合費用總額	-	-	-	-	-	-	(888)	(888)
與所有者的交易
股份發行 - 投資 2025 年 7 月	331	117	-	-	-	-	-	448
基於股份的補償 - 股票期權	-	-	-	27	16	-	-	43
與所有者的交易總額	331	117	-	27	16	-	-	491
2025年9月30日的餘額	2,758	9,020	2,715	1,321	407	-	(15,465)	756


	Share capital	Share premium	Merger reserve	Warrant reserve	Share based compensation	Currency translation reserve	Accumulated losses	Total
	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000
Balance at 1 April 2024	1,842	5,954	2,715	1,185	319	-	(12,580)	(565)
Total comprehensive expense for the period	-	-	-	-	-	(2)	(620)	(622)
Transactions with owners
Share issue - warrant exercise	148	584	-	-	-	-	-	732
Share issue - cash	348	1,967	-	-	-	-	-	2,315
Share-based compensation - share options	-	-	-	-	41	-	-	41
Total transactions with owners	496	2,551	-	-	41	-	-	3,088
Balance at 30 September 2024	2,338	8,505	2,715	1,185	360	(2)	(13,200)	1,901


	股本	股本溢價	合併儲備	權證儲備	基於股份的補償	貨幣轉換儲備	累計虧損	總計
	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000
2024年4月1日的餘額	1,842	5,954	2,715	1,185	319	-	(12,580)	(565)
本期的綜合費用總額	-	-	-	-	-	(2)	(620)	(622)
與所有者的交易
股份發行 - 權證行使	148	584	-	-	-	-	-	732
股份發行 - 現金	348	1,967	-	-	-	-	-	2,315
基於股份的補償 - 股票期權	-	-	-	-	41	-	-	41
與所有者的交易總額	496	2,551	-	-	41	-	-	3,088
2024年9月30日的餘額	2,338	8,505	2,715	1,185	360	(2)	(13,200)	1,901


	Share capital	Share premium	Merger reserve	Warrant reserve	Share based compensation	Currency translation reserve	Accumulated losses	Total
	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000
Balance at 1 April 2024	1,842	5,954	2,715	1,185	319	-	(12,580)	(565)
Total comprehensive expense for the period	-	-	-	-	-	-	(1,997)	(1,997)
Transactions with owners
Share issue - in lieu of creditors	89	291	-	-	-	-	-	380
Share issue - warrant exercise	148	551	-	-	-	-	-	699
Share issue - investment Jun 24	348	1,999	-	-	-	-	-	2,347
Warrant extension fee received	-	-	-	75	-	-	-	75
Share-based compensation - share options	-	108	-	34	72	-	-	214
Total transactions with owners	585	2,949	-	109	75	-	-	3,715
Balance at 31 March 2025	2,427	8,903	2,715	1,294	391	-	(14,577)	1,153


	股本	股本溢價	合併儲備	權證儲備	基於股份的補償	貨幣轉換儲備	累計虧損	總計
	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000
2024年4月1日的餘額	1,842	5,954	2,715	1,185	319	-	(12,580)	(565)
本期的綜合費用總額	-	-	-	-	-	-	(1,997)	(1,997)
與所有者的交易
股份發行 - 以償還債務	89	291	-	-	-	-	-	380
股份發行 - 權證行使	148	551	-	-	-	-	-	699
股份發行 - 投資 2024 年 6 月	348	1,999	-	-	-	-	-	2,347
權證延期費用收入	-	-	-	75	-	-	-	75
基於股份的補償 - 股票期權	-	108	-	34	72	-	-	214
與所有者的交易總額	585	2,949	-	109	75	-	-	3,715
2025年3月31日的餘額	2,427	8,903	2,715	1,294	391	-	(14,577)	1,153

The registered number of Incanthera plc is 11026926.

Incanthera plc 的註冊號碼是 11026926。

Consolidated Statement of Cash Flows

合併現金流量表

for the six months ended 30 September 2025 - unaudited

截至2025年9月30日的六個月 - 未經審計


	Group	Group	Group
	Six months ended 30 September 2025	Six months ended 30 September 2024	Year ended 31 March 2025
	Unaudited	Unaudited	Audited
	£'000	£'000	£'000
Cash flows from operating activities
Loss before taxation	(888)	(620)	(1,997)
Depreciation and amortisation	-	1	58
Currency Translation difference	-	(2)	-
Share based compensation	43	41	214
	(845)	(580)	(1,725)
Changes in working capital
(Increase)/decrease in trade and other receivables	146	(8)	(697)
(Increase)/decrease in inventories and WIP	1	(1,236)	(869)
Increase/(decrease) in trade and other payables	386	(226)	196
Creditor Swap
Cash used in operations	533	(1,470)	(1,370)
Taxation received	(1)	-	-
Net cash used in operating activities	(313)	(2,050)	(3,095)
Cash flows (used in)/generated from investing activities
Acquisition of tangible fixed assets	-	-	(7)
Net cash (used in)/generated from investing activities	-	-	(7)
Cash flows from financing activities
Proceeds from warrant extension	-	-	75
Proceeds from issue of shares	580	3,342	3,342
Issue costs	(132)	(295)	(296)
Net cash generated from financing activities	448	3,047	3,121
Movements in cash and cash equivalents in the period	135	997	19
Cash and cash equivalents at start of period	80	61	61
Cash and cash equivalents at end of period	215	1,058	80


	集團	集團	集團
	截至2025年9月30日的六個月	截至2024年9月30日的六個月	截至2025年3月31日的年度
	未經審計	未經審計	已審計
	£'000	£'000	£'000
來自經營活動的現金流
税前虧損	(888)	(620)	(1,997)
折舊和攤銷	-	1	58
貨幣轉換差額	-	(2)	-
基於股份的補償	43	41	214
	(845)	(580)	(1,725)
營運資金的變動
應收賬款的（增加）/減少	146	(8)	(697)
存貨和在製品的（增加）/減少	1	(1,236)	(869)
應付賬款的增加/(減少)	386	(226)	196
債權人互換
經營活動中使用的現金	533	(1,470)	(1,370)
收到的税款	(1)	-	-
經營活動中使用的淨現金	(313)	(2,050)	(3,095)
投資活動中的現金流（使用）/產生
固定資產的購置	-	-	(7)
投資活動中使用的/產生的淨現金	-	-	(7)
融資活動中的現金流
權證延期的收入	-	-	75
股份發行的收入	580	3,342	3,342
發行費用	(132)	(295)	(296)
融資活動中產生的淨現金	448	3,047	3,121
期間現金及現金等價物的變動	135	997	19
期初現金及現金等價物	80	61	61
期末現金及現金等價物	215	1,058	80

1. GENERAL INFORMATION

1. 一般信息

Incanthera plc ('the Company') is a public limited company incorporated in England and Wales and was admitted to trading on the AQSE Growth Market, under the symbol INC on 28 February 2020. The Company trades on the Apex segment.

Incanthera plc（“公司”）是一家在英格蘭和威爾士註冊的公眾有限公司，並於2020年2月28日以 INC 為交易代碼在 AQSE 增長市場上市。該公司在 Apex 板塊交易。

The address of its registered office is c/o Gateley plc, Ship Canal House, 98 King Street, Manchester, England, M2 4WU and the registered company number is 11026926. The principal activity of the Company is clinical stage drug development.

其註冊辦公地址為：c/o Gateley plc, Ship Canal House, 98 King Street, Manchester, England, M2 4WU，註冊公司號碼為 11026926。公司的主要活動是臨牀階段藥物開發。

2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES

2. 編制基礎和重要會計政策

Basis of preparation

編制基礎

The consolidated financial statements have been prepared in accordance with UK adopted International Financial Accounting Standards ('IFRS'), IFRIC interpretations and the Companies Act 2006 applicable to companies operating under IFRS.

合併財務報表已根據英國採納的國際財務會計準則（“IFRS”）、IFRIC 解釋和適用於在 IFRS 下運營公司的 2006 年公司法編制。

The consolidated financial statements are presented in Sterling (£) and rounded to the nearest £'000. This is the predominant functional currency of the Group and is the currency of the primary economic environment in which it operates.

合併財務報表以英鎊（£）呈現，並四捨五入到最接近的£'000。這是集團的主要功能貨幣，也是其運營的主要經濟環境的貨幣。

The consolidated financial statements have not been reviewed by the Group's auditors.

合併財務報表未經過集團審計師的審查。

3. LOSS PER SHARE

3. 每股虧損

Basic loss per share is calculated by dividing the loss for the period attributable to equity holders by the weighted average number of ordinary shares outstanding during the period.

基本每股虧損是通過將歸屬於股東的期間虧損除以期間內流通在外的普通股加權平均數來計算的。

For diluted loss per share, the loss for the period attributable to equity holders and the weighted average number of ordinary shares outstanding during the period is adjusted to assume conversion of all dilutive potential ordinary shares. As the effect of the share options would be to reduce the loss per share, the diluted loss per share is the same as the basic loss per share.

對於稀釋每股虧損，歸屬於股東的期間虧損和期間內流通在外的普通股加權平均數會進行調整，以假設所有可稀釋潛在普通股的轉換。由於股票期權的影響會減少每股虧損，因此稀釋每股虧損與基本每股虧損相同。

The calculation of the Group's basic and diluted loss per share is based on the following data:

集團基本和稀釋每股虧損的計算基於以下數據：


	Six months ended 30 September 2025	Six months ended 30 September 2024	Year ended 31 March 2025
	£'000	£'000	£'000
	Unaudited	unaudited	Audited
Loss for the period attributable to equity holders for basic loss and adjusted for the effects of dilution	(888)	(620)	(1,997)
	As at 30 September 2025	As at 30 September 2024	As at 31 March 2024
	Number	Number	Number
	Unaudited	Unaudited	Audited
Weighted average number of ordinary shares	129,166,801	108,378,872	112,595,162
Weighted average number of ordinary shares adjusted for the effects of dilution	129,166,801	108,378,872	112,595,162
	Pence	Pence	Pence
Loss per share - basic and diluted	(0.69)	(0.57)	(1.77)


	截至2025年9月30日的六個月	截至2024年9月30日的六個月	截至2025年3月31日的年度
	£'000	£'000	£'000
	未審計	未審計	已審計
歸屬於股東的期間虧損（基本虧損和稀釋影響調整後）	(888)	(620)	(1,997)
	截至 2025年9月30日	截至 2024年9月30日	截至 2024年3月31日
	數量	數量	數量
	未審計	未審計	已審計
普通股加權平均數	129,166,801	108,378,872	112,595,162
考慮稀釋影響的普通股加權平均數	129,166,801	108,378,872	112,595,162
	便士	便士	便士
每股虧損 - 基本和稀釋	(0.69)	(0.57)	(1.77)

4. SHARE-BASED PAYMENTS

4. 基於股份的支付

As at the end of the current period, the reconciliation of share option scheme movements is as follows:

截至當前期間末，股票期權計劃變動的對賬如下：


	As at 30 September 2025
	Number	WAEP Pence
Outstanding at 1 April 2025	8,975,000	10.77
Granted during the period	-	-
Exercised during the period	-	-
Lapsed/cancelled during the period	-	-
Outstanding at 30 September 2025	8,975,000	10.77


	截至2025年9月30日
	數量	WAEP 便士
2025年4月1日的未行使	8,975,000	10.77
期間內授予	-	-
期間內行使	-	-
期間內失效/取消	-	-
截至2025年9月30日的未行使	8,975,000	10.77

During the six month period ended 30 September 2025, a share-based payment charge of £43,073 (2024: £41,126) was expensed to the consolidated Statement of Comprehensive Income.

在截至2025年9月30日的六個月期間，基於股份的支付費用為£43,073（2024 年：£41,126），已計入合併綜合收益表。

The fair values of the options granted have been calculated using a Black-Scholes model.

授予的期權的公允價值是使用 Black-Scholes 模型計算的。

5. ISSUED CAPITAL AND RESERVES

5. 已發行資本和儲備

Ordinary shares

普通股


	Company
	Number of Shares	Share Capital (£'000)
At 31 March 2025	121,366,645	2,427
Issued on placing	16,571,429	331
At 30 September 2025	137,938,074	2,758


	公司
	股份數量	股本 (£'000)
截至2025年3月31日	121,366,645	2,427
發行於配售	16,571,429	331
截至2025年9月30日	137,938,074	2,758

New shares were issued during six-month period ended 30 September 2025 in relation to a placing agreement.

在截至2025年9月30日的六個月期間，因配售協議而發行了新股。

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公告 - Incanthera PLC - 半年度報告