Fusion Antibodies PLC - pharmaceutical company based in Belfast - Says revenue of GBP975,000 realised for the quarter to June 2020 takes its expected income for its financial year ended March 31 to around GBP3.9 million, representing a 79% year-on-year increase. States it has commenced its proof-of-concept work on its Mammalian Antibody Library Discovery platform and hit its first milestone in the Covid-19 associated project. Additionally, it has signed up A-Frontier Co Ltd and BioTickle Pty Ltd as exclusive distributors in South Korea and India respectively.
"We're pleased to have been able to continue to service our clients during the ongoing pandemic and our distributor agreements will broaden our reach in two key markets. In addition, following the successful equity fundraise in April, we have made excellent progress on the launch of the proof-of-concept for the Mammalian Library and have generated a panel of SARS-CoV-2 S antigens," said Chief Executive Paul Kerr.
Current stock price: 89.00 pence
Year-to-date change: up 13%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Fusion Antibody (FAB)