Horizon Discovery Group PLC - Cambridge-based gene editing company - Expects to report revenue for the half year ended June 30 of approximately GBP22.4 million, down from GBP26.1 million a year before. This was largely due to the reduction in academic research caused by Covid-19, and was in line with the company's expectations. At the adjusted earnings before interest, tax, depreciation and amortisation level, Horizon is expecting to show a loss of GBP4.6 million, compared to a flat adjusted Ebitda a year prior. Horizon had cash and cash equivalents of GBP23.6 million as of June 30 - bolstered by a successful share placing in April of GBP6.9 million. It is confident of a return to growth in the second half of 2020.
Current stock price: 104.50 pence
Year-to-date change: down 30%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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