13th Aug 2018 10:26
LONDON (Alliance News) - Shares fell in Fusion Antibodies PLC on Monday as it reported that trading in its current financial year to date has been slower than expected, due to increase competition and pricing pressures.
Shares in the drug discovery company dropped 30% at 85.00 pence on Monday following the announcement.
Combined with delays in securing some large contracts, the company's performance for the year ending March 31, 2019 is expected to be significantly below current market expectations, it said.
However, Fusion Antibodies is still expected to see modest year-on-year revenue growth, it said. In addition, the company's laboratory capacity expansion has been completed on time, with its affinity maturation project on schedule for completion in December.
Fusion Antibodies will publish its annual results for financial 2018 on Thursday, and these are expected to be in line with market expectations.
Related Shares:
Fusion Antibodies