Incanthera PLC (AQSE:INC), the dermatology and oncology company, is in active discussions with three potential retail distribution partners across Europe, Asia and the Middle East for bulk orders of its Skin+CELL skincare product, as it seeks to kick on from a slow start to consumer sales.
The company, which launched Skin+CELL through a direct-to-consumer website in August 2025, said it had sold just 177 units, generating £12,400 in revenue, against an earlier target of shifting 100,000 units by 31 March 2026.
A large-volume sale the company had anticipated before its financial year-end will not now materialise in time.
Incanthera cautioned that no agreements have been signed with any of the three parties and there is no certainty that discussions will progress to an order or result in the purchase of its remaining stock.
The board said it does not anticipate needing to raise external funding in the near term, adding that directors and management would provide additional financial support if required.
The company is also pursuing a technology licensing opportunity and developing an SPF product range ahead of manufacture.
Chief executive Simon Ward said the pace of direct-to-consumer sales was "not at the level we expected" but pointed to broader commercial opportunities as grounds for optimism.