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Fusion Antibodies PLC - Belfast-based antibody engineering services for development of antibodies for therapeutic drug and diagnostic applications - Notes recent decline in its share price - down 25% in 2022 to date - and says it isn't aware of a specific reason for this. Says company remains well capitalised and trading in the financial year ending March 31 is in line with expectations.
Back in December, Fusion Antibodies reported its pretax loss widened to GBP651,000 in the six months that ended September 30 from GBP572,000 a year prior. Revenue in the period rose to GBP2.4 million, up 26% from GBP1.9 million a year before, but this was largely offset by a 27% increase in administrative expenses to GBP1.9 million from GBP1.5 million.
Current stock price: 83.00 pence, up 0.6% on Thursday
12-month change: down 28%
By Tom Waite; thomaslwaite@alliancenews.com
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