Toumaz pares losses

Wireless communications firm Toumaz cut its losses in the first half of the year and said it had achieved a number of important milestones.The firm posted a loss of £3.5m in the first half of 2011, compared with a £3.7m loss the previous year.For the six months to June 2011 revenues were £0.7m, down from £1.2m in 2010.The firm said key achievements in the first half included FDA approval of its Sensium Plaster and the launched an  ultra-low power radio receiver and transmitter, Telran, which was gaining traction along with its Xenif multimedia and internet connectivity chip.Toumaz said that revenues from sales of Xenif would steadily increase during second half of 2011 and 2012 as the product matured and gained further market share.