By Elena Vardon
Shares in Aptamer Group fell after it said that it expects revenue for the first half of fiscal 2024 to be lower than the previous year due to weak customer demand in the run up to the completion of its fundraise.
At 0805 GMT, shares were down 0.15 pence, or 11%, at 1.2 pence.
However, the U.K. biotechnology company on Monday said that it has seen consumer confidence improve since the reshuffling of its board and appointment of a new management team along with the 3.6 million pound ($4.5 million) raise, which were announced on July 31.
“We are encouraged by the response from customers since the company refinanced and we have confidence that the team will be able to convert a number of existing pipeline opportunities, in addition to attracting a complement of new customers, to meet market expectations for the full year,” Executive Chairman Steve Hull said.
The group said its pipeline of opportunities that are at advanced stages of talks stands at GBP3.3 million across 28 projects, with significant orders to be signed until the end of December.
Aptamer reported GBP1.0 million in revenue for the first half of fiscal 2023, which ended Dec. 31 last year.
Write to Elena Vardon at [email protected]
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