‘Material uncertainty’ plagues state-backed Nektr Technologies as losses rise to €2.1m
2022 accounts for Sligo-based biotech firm, founded by Frank Boyle, ‘cast significant doubt’ on its ‘ability to continue’
Losses at Nektr Technologies, a biotechnology company founded by Irish entrepreneur Frank Boyle, rose from €1.8 million to €2.1 million in 2022.
The Sligo-based company, which is heavily backed by the taxpayer through both Enterprise Ireland and the Western Development Commission, made a loss for the year of €331,425, compared to a loss of €878,440 the year before, freshly filed financial statements show.
The company’s auditors state in the accounts that the losses “indicate that ...