RE: Normal behaviour25 Nov 2025 10:33
Hi Laura,
FAB did increase revenues from the last Half, but have always been clear about the lack of movement in CRO contracts as the market is severely stuck in the mud of Trump's world, RFK, dismantling of US medical regulatory bodies, DOGE has led investment stasis in Biotech/Pharma.
That hasn't surprised investors in FAB, but we also know they are just launching a platform (in less than 3 weeks)that will be the benchmark for antibody discovery (don't just take my word for it, they have had the National Cancer Institute in the US use it for the past 2 years and they have validated it and found it very good and exceeded expectations on some parameters, the validation is confirmed by the fact they want to sign an agreement to use it beyond the timescale of the original agreement, to continue to use it to discover and develop antibodies to bind to further targets).
However here the investors seem so rose tinted that they haven't taken that this will and has affected every CRO. Have a think about whether all the contracted revenue will continue without delays or cancellations, whether the 6 late stage discussions will actually turn into contracts?
Less than a year ago FAB was at 4p and you came across and spammed their BBs when on December the 4th they announced their FMI grant, PYC was around 0.65p at the time. PYC then went up to about 1.2p and dropping back (surprisingly until the placing appeared) to the lows now, Fab went from 4p to 21p peak and back down to 11.75p now, it doesn't take a mathematician....