6th Dec 2021 14:54
Fusion Antibodies PLC - Belfast-based therapeutic drug and diagnostic applications research organisation - Says pretax loss in the six months to September 30 widened to GBP651,000 from GBP572,000 a year prior. This is due to a 27% increase in administrative expenses to GBP1.9 million from GBP1.5 million.
Revenue in the period rose to GBP2.4 million, up 26% from GBP1.9 million a year before. Attributes this to two major contract wins. Says it is confident that annual revenue will be in line with current expectations. Still cautions that the pandemic and status of Brexit negotiations continue to provide significant uncertainties.
"We are delighted to report a strong all-round performance for the first half of the year with good revenue growth, major new contracts, collaboration agreements and increased investment into our research programmes," Chief Executive Richard Jones says.
Current stock price: 121.00 pence
Year-to-date: down 2.4%
By Abby Amoakuh; [email protected]
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