8th Oct 2024 13:58
Fusion Antibodies PLC - Belfast-based contract researcher that provides discovery, design and optimisation services for therapeutic antibodies to the healthcare market - Expects revenue of around GBP1.2 million for the six months to September 30, more than doubling from GBP541,000 at the same time last year. Its gross margin is expected to be 29%, compared to negative 16% the year prior. Fusion Antibodies expands its collaboration agreement with the National Cancer Institute in the six-month period to include the company's humanisation of the NCI's existing camelid nanobodies, and secures a new contract for an antibody based therapeutic with an unnamed US-based biotechnology company. It is also contracted to develop a bespoke OptiPhage library for an unnamed client. The company remains on track with its strategic goals.
Current stock price: 4.40 pence, up 8.6% in London on Tuesday afternoon
12-month change: down 22%
By Emily Parsons, Alliance News reporter
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