AGM statement and H1 trading update
Fusion Antibodies PLC announced unaudited revenues for the first half of the financial year ending March 31, 2026, were approximately £838k, down from £1.2m in the prior year's first half but up from £755k in the second half of last year. The unaudited gross margin for the period was 30%, an increase from 22% in the prior year. Cash as of September 30, 2025, was £251k, tracking in line with management's expectations. The company also highlighted the grant of their US patent covering the OptiMAL® library design and method. They anticipate a stronger performance in the second half of the year.
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Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, announces that at the Company's AGM, being held later today, Simon Douglas, Chairman, will provide the following update on trading for the first half of the current financial year ending 31 March 2026 ("HY26"):
"Unaudited revenues for HY26 were approximately £838k (H1 2025: £1.2m, FY25: £1.96m). Whilst down on the prior year H1, they represent a notable increase on the second half of last year (H2 2025: £755k) and, unlike last year, we anticipate an even stronger performance in H2 supported by our robust existing order book, promising sales opportunities pipeline and better market sentiment. Unaudited gross margin for the period was 30%, compared to 22% in the prior year which reflects our improved operational efficiency and our ability to create value. Cash as at 30 September 2025 was £251k and is tracking in line with management's expectations.
"During the period, the Company achieved a significant milestone with the grant of our US patent covering the OptiMAL® library design and method and has continued our collaboration with the National Cancer Institute ("NCI"). The collaboration has generated a strong performance of OptiMAL® and resulted in the NCI's desire to continue to use the platform for more of their antibody discovery projects over the coming years.
"Among a range of new contract wins, we were selected to develop a stable cell line for a US based biotechnology company and were awarded multiple contract wins for humanisation projects with divisions of major pharmaceutical companies, further demonstrating our recognised expertise in antibody engineering. Investor and stakeholder engagement has been significantly strengthened through a series of investor presentations including face to face meetings in London and Belfast as well as further development of the interactive investor hub at investorhub.fusionantibodies.com.
"Cash continues to be carefully managed and, as set out in the Company's FY25 results announced on 4 September 2025, based on internal estimates the Company has a cash runway into FY27 and remains on plan with our strategic goals including the launch of OptiMAL® in December which we believe will herald a new stage in the Company's development and open up new markets and revenues."
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