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Proteome Sciences PLC on Thursday reported lower interim revenue as weaker demand for its TMT reagents offset strong growth in its proteomics services business, though the company said it sees momentum building in orders. Shares in Proteome Sciences fell 39% to 1.93 pence each in London on Thursday afternoon. The London-based life sciences company said revenue in the six months to June 30 fell 16% to £1.9 million from £2.2 million a year before. Pretax loss narrowed slightly to £2.1 million from £2.2 million a year earlier. Service revenue more than doubled to £1.1 million from £370,000, driven by contracts with US and European pharmaceutical clients, but TMT reagent sales and royalties dropped to £790,000 from £1.9 million due to reduced academic research funding in the US. Gross profit rose to £324,000 from £205,000, while adjusted earnings before interest, tax, depreciation and amortisation showed a loss of £1.2 million, little changed from £1.2 million a year earlier. Proteome blamed the decline in TMT sales on US tariff policy and steep cuts to the budget of the National Institute of Health, which has disrupted funding for academic research. It said demand for reagents may remain under pressure in 2025 before recovering as the life sciences industry adapts. Executive Chair Christopher Pearce said: ‘We are encouraged that the strong performance of our Frankfurt services business that grew 2.5x in the first half has continued at a similar pace in the second half of the year and with carry over into 2026. We expect this will be further assisted by the rapid growth in orders at our San Diego facility.’ Proteome said it is working with Thermo Scientific to increase uptake of its TMT technology globally and expects its newly launched DXT tags for plexDIA experiments to open fresh revenue opportunities. Despite near-term headwinds, Pearce said the company is ‘well positioned to deliver future increases in revenue and returns.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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