Ark Therapeutics Group plc announced audited consolidated earnings results for the year ended December 31, 2012. For the year, the company reported revenue from continuing operations recorded totaled £1,818,000, compared to £7,129,000 a year ago. Operating loss was £12,969,000 against £4,452,000 a year ago. Loss on ordinary activities before taxation was £12,963,000 against £4,444,000 a year ago. Loss on ordinary activities after taxation was £12,940,000 against £3,737,000 a year ago. Loss on ordinary activities after taxation, being retained loss for the year were £12,734,000 or 6.2 pence per basic and diluted share against £3,450,000 or 1.8 pence per basic and diluted share a year ago. Total operating loss was £12,763,000 against £4,165,000 a year ago. Net cash used in operating activities was £7,403,000 against £1,647,000 a year ago. Purchase of property, plant and equipment was £108,000 against £97,000 a year ago. Purchase of intangible assets was £40,000 against £204,000 a year ago. Total revenue was £1,865,000 against £7,192,000 a year ago. The principal reason for the increase in the net cash outflow from operating activities for the year was the decrease in license income of £6,500,000. The company’s intangible capital expenditure included license payments to access technology used in Ark's research programmes. The loss from continuing operations before tax increased significantly during the year 2012 compared to 2011. This was as a result of the lower revenue arising from licensing agreements (£6,500,000 in 2011), impairment charges of £3,100,000 and an increase in administration costs associated with fundraising activities, even though restructuring and cost reduction measures were put in place.

Ark Therapeutics Group plc has decided that it is no longer in discussions in the context of a "formal sale process". As such, the company is no longer in an offer period for the purposes of the City Code on Takeovers and Mergers.

Ark Therapeutics Group plc is considering multiple strategic options to enhance shareholder value. Ark Therapeutics has appointed WG Partners to assist the Company in reviewing and evaluating a number of strategic. The options include securing long term strategic partners for the business which may include an offer being made for Ark Therapeutics. Ark Therapeutics continues to explore opportunities to monetize its non-core assets, and is in discussions with a number of interested parties. The discussions in relation to a potential merger with a third party or a sale of the business will take place within the context of a formal sale process as defined in The City Code on Takeovers and Mergers.