(Alliance News) - Fusion Antibodies PLC on Monday said trading for financial 2020 has remained in line with expectations, despite the Covid-19 outbreak and resultant government restrictions.
In January, the pharmaceutical company - which specialises in discovering, engineering, and supplying pre-clinical antibodies for use in medicine - said that it expects revenue for its financial year ending Wednesday to be materially ahead of the GBP2.2 million recorded for the comparative period the year prior.
Fusion Antibodies said it remains fully operational, with some of its clients working on solutions relating to Covid-19. It added that its has been engaged in, and received further interest regarding its services for a number of projects in relation to Covid-19.
"At the current time, the pharmaceutical industry has a vital role to play in overcoming the Covid-19 pandemic and Fusion's clients are heavily involved in this work. We are well placed to support our clients in this vital work and believe that our services and products can help accelerate the finding of the solution," said Chief Executive Paul Kerr.
The stock was closed 19% higher at 99.05 pence each on Monday afternoon in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Fusion Antibody (FAB)