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LONDON (Alliance News) - Proteome Sciences PLC shares dropped heavily in early trade on Wednesday after the company said contract delays will mean its full year revenue will come in below market expectations.
Shares in the company were down 19% to 27.75 pence, the worst performer in the AIM All-Share index, after Proteome said a number of contracts have been delayed, as noted in its half-year results in September.
Due to the delays, the company said it now expects its revenue for the year to be below market expectations and lower than the revenue posted last year. It said it does expect to realise the revenue from the contracts next year.
The company also said it has started talks to out-license diagnostic applications for mild cognitive impairment and Alzheimer's disease detection have started with a number of undisclosed interested parties. It said it expects more visibility on the possible revenue from these deals next year.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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