Avacta Group annual loss widens as cancer treatment trial results loom

(Alliance News) - Avacta Group PLC on Tuesday said clinical data from two cancer trials is expected to be released this year as it reported a widened annual pretax loss.

The London-based clinical stage biopharmaceutical which is developing pre|CISION, a tumor-activated oncology delivery platform, said its pretax loss widened to GBP36.8 million in 2025 from GBP29.0 million the year prior.

Last year's figure benefited from a GBP13.7 million gain on the revaluation of a derivative compared to a GBP1.5 million loss in 2025.

Revenue from continuing operations was flat at GBP113,000, with overall group sales of GBP6.3 million, down from GBP24.4 million, reflecting the sale of Diagnostics division.

Research costs climbed to GBP18.8 million from GBP14.3 million, relating to the ongoing expansion of the preCISION and Affimer therapeutic programs with AVA6103 and increased expenses related to AVA6000, which are expensed given their early stage in the development pathway.

Selling, general and administrative expenses fell to GBP10.0 million from GBP12.1 million, primarily due to costs incurred during 2024 relating to executive management changes and additional legal and professional expenses related to the strategic shift toward becoming a pure-play biotech company.

Basic and diluted losses per share amounted to 9.66 pence compared to 15.34p the year before, or 9.27p versus 8.54p from continuing operations.

Cash and short-term deposit balances at the end of 2025 stood at GBP16.9 million compared to GBP12.9 million the year before. As of April 30, cash held was GBP16.4 million.

Looking ahead, Avacta said initial clinical data in the AVA6103 programme is anticipated in late second half 2026, with AVA6000 clinical data from the Phase 1a and 1b cohorts expected in the first half.

Both AVA6103 and AVA6000 are cancer treatments in clinical development.

Payload selection and clinical candidate selection in the "Gen Three pre|CISION Dual Payload program, AVA6207", is expected in the second half of the year.

In addition, Avacta said talks continue with "multiple" parties on potential partnering of first, second and third generation assets.

"Our portfolio is supported by strong and increasingly valuable intellectual property to protect our innovation. It continues to generate strong interest from multiple parties for potential commercial agreements. These could both generate revenue to support our development and broaden the application of our technology," said Chief Executive Christina Coughlin.

Shares in Avacta Group were down 0.5% at 84.12 pence each in London on Tuesday morning.

By Jeremy Cutler, Alliance News reporter

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