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Agronomics Ltd - Isle of Man, UK-based cellular agriculture company - Net asset value grows as investments in cellular agriculture prove lucrative.
As of June 30 year-end, NAV per share stands at 15.27 pence per share, up 30% from 11.71p a year ago. Net assets grow to GBP148 million from GBP93.6 million a year ago, up 58%.
"Whilst global venture funding aggregated across all areas has experienced a 23% decline quarter on quarter in the second quarter of 2022, reflecting the slow-down given volatile market conditions, cellular agriculture as a sector remains promising because of the significant environmental, social & corporate governance tailwinds, intrinsic excitement and near-term uplifts, all of which will benefit the Agronomics portfolio," Chair Richard Reed says.
Regarding future investments, Chair Reed explains: "We intend to further increase our exposure in precision fermentation and its enabling technologies given the near-term commercial opportunities, coupled with limited technology risks."
Current stock price: 16.99 pence, up 6.2% on Friday
12-month change: down 25%
By Tom Budszus; tombudszus@alliancenews.com
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