August 2000 saw the launch of Pharmagene Target Evaluator TM . This database is being marketed for licensing to pharmaceutical and biotechnology companies and contains valuable information on the expression levels of pharmaceutically relevant human genes together with related, anonymised clinical histories. Further database products will be developed for launch in the near term. The pipeline of contracts for Phase ZERO services is continuing to grow and the Group is working to convert these into revenues. The Group has no recognised gains and losses other than the losses above and therefore no separate statement of recognised gains and losses has been presented.
All results arise from continuing operations.
The interim financial statements have been prepared on the basis of the accounting policies set out in the Group's 1999 statutory accounts. The interim financial statements were approved by a duly appointed and authorised committee of the Board of Directors on 27 September 2000. The charge is then credited back to reserves. The Company has no dilutive potential ordinary shares in issue. The comparative figures have been restated to reflect a share split which took place on 8 June 2000, whereby each issued ordinary share of 20p was subdivided into four ordinary shares with a nominal value of 5p each.