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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 £1.2 million for the six months to September 30, more than doubling from £541,000 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%
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