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Share Price Information for Microsaic (MSYS)

London Stock Exchange
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Share Price: 1.025
Bid: 1.00
Ask: 1.05
Change: -0.108 (-9.53%)
Spread: 0.05 (5.00%)
Open: 1.075
High: 1.075
Low: 1.025
Prev. Close: 1.133
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Microsaic losses persist on spiralling costs

Mon, 11th Mar 2019 09:27

(Sharecast News) - Microsaic Systems' shares dropped on Monday after it reported that costs are likely to remain elevated in 2019, having contributed to annual losses widening last year.For the year ended 31 December the mass spectrometry instrument developer's loss before tax widened to £3.0m, an increase of 5% compared to the year before, as a 69% increase in revenue to £0.6m was offset by a 52% increase in cost of sales to £0.3m and an 8% increase in total operating expenses to £3.3m.Glenn Tracey, chief executive of Microsaic, said: "2018 marks the year of accelerated growth for the business. Microsaic has increased its customer base from one partner to eight and has extended its geographic reach to now include Southeast Asia, Europe and North America, with further growth planned in 2019. As CEO for just over a year, I am encouraged with the company's progress, particularly in business development, which continues to expand globally. This has contributed to top-line growth in 2018 of 69%, and I am confident that we will continue to see strong growth in 2019."The revenue increase was driven by a jump in product revenue of 104% to £0.5m, while operating expenses increased due to "increased business development" as had been expected.A statement from Microsaic said expenses are projected to jump again in 2019 due to the AIM traded company's "business plan to meet its commercialisation and product development goals"."I am also pleased with our operational development, following the transfer of our clean-room facility and assembly to our manufacturing partner. Targeted investment will be made in 2019 to further strengthen our capabilities in comercialisation and product development," said Tracey.A statement from Microsaic said it is in early stage discussions with several potential partners in the Healthcare and Life Sciences sectors and "remains optimistic" about the commercial viability of its differentiated technology for large molecule applications.At the end of the year the company had cash and cash equivalents of £5.4m, up from £3.2m at the same point the year before.Microsaic Systems' shares were down 5.16% at 1.38p at 0842 GMT.
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11 Jan 2019 10:53

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11 Jan 2019 10:29

Microsaic launches new protein identification technology

(Sharecast News) - Mass spectrometry instrument developer Microsaic Systems announced the introduction of its new protein identification technology on Friday - the 'Microsaic MiD ProteinID'.

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11 Jan 2019 08:44

Microsaic Shares Soar As It Launches New Identification Technique

LONDON (Alliance News) - Shares in mass spectroscopy instrument maker Microsaic Systems PLC jumped over 40% on Friday as it introduced its new Microsaic MiD ProteinID protein identification in 74%

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19 Dec 2018 11:55

Microsaic Systems tanks as bioprocessing partnership abandoned

(Sharecast News) - Microsaic Systems' shares plummeted on Wednesday after its global bioprocessing partner terminated their collaboration before reaching the commercialisation phase.

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7 Nov 2018 09:40

Microsaic Systems Signs US Distribution Contract With Spark Holland

LONDON (Alliance News) - Microsaic Systems PLC on Wednesday said it signed an exclusive agreement with Spark Holland Inc to distribute Microsaic-branded 4500 MiD mass spectrometry detector in the

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3 Sep 2018 10:41

Microsaic still turning a loss despite leap in revenues

(Sharecast News) - Scientific research firm Microsaic Systems saw its shares fall on Monday after reporting a first-half loss as a jump in revenue was offset by increasing sales costs.

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3 Sep 2018 09:42

Microsaic Interim Revenue Doubles But Loss Deepens On Investment

LONDON (Alliance News) - Scientific devices maker Microsaic Systems PLC said Monday its interim loss deepened amid higher costs despite revenue doubling as it continues to invest in growing the to

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21 Jun 2018 10:34

Microsaic Systems Secures Distribution Agreement With Amedis

LONDON (Alliance News) - Microsaic Systems PLC on Thursday said it signed deal with Swiss company Amedis to distribute Microsaic-branded 4500 MiD mass spectrometry detectors in Slovakia.The

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4 May 2018 11:02

WINNERS & LOSERS SUMMARY: Pearson Rises As It Makes Good Start To Year

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28 Mar 2018 13:40

Microsaic Systems, Unimicro Technologies To Sell Products In China

LONDON (Alliance News) - Microsaic Systems PLC, a developer of point of need mass spectrometry instruments used in the medical sector, said Wednesday it has signed an with Inc

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21 Mar 2018 10:28

Microsaic Systems Shares Rise As It Inks UK Commercial Contract

LONDON (Alliance News) - Microsaic Systems PLC shares rose on Wednesday morning as the firm said it has signed a commercial contract with a UK-based and

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24 Jan 2017 13:03

Microsaic Systems Appoints Eric Yeatman As Interim Chairman

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13 Dec 2016 14:18

Microsaic Systems profits in line with expectations

(ShareCast News) - Microsaic Systems, an AIM listed developer of chip-based mass spectrometry instruments, has provided a trading update saying that it expects earnings before interest, tax, depreciation and amortisation (EBITDA) and pre-tax profit for 2016 to be broadly in line with market expectat

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26 Aug 2016 14:06

Microsaic Systems increases H1 revenue; announces £5m placing

(ShareCast News) - AIM-listed Microsaic Systems, the developer of chip-based mass spectrometry instruments, said it increased first-half revenue to £0.47m from £0.23m and announced a plans to raise gross proceeds of up to £5.4m through a placing of ordinary shares to existing and new investors. The

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13 Jun 2016 15:02

UK Shareholder Meetings Calendar - Next 7 Days

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