Last checked at 19 Dec 2022 07:00
Abingdon Health plc
("Abingdon Health", the "Group" or the "Company")
AGM Statement
York, U.K. 19 December 2022: Abingdon Health plc (AIM: ABDX), a leading international developer and manufacturer of high quality, rapid diagnostic tests, will hold its Annual General Meeting at 9.30 a.m. today at the offices of Abingdon Health, York Biotech Campus, Sand Hutton, York, YO41 1LZ.
Chris Yates, Chief Executive Officer, will address the meeting with the following statement:
"We updated shareholders recently with the announcement of our preliminary results for the year ended 30 June 2022. In those statements we outlined the strategic focus we now have on our Contract Development and Manufacturing ("CDMO") services, given the anticipated growth in demand we expect to see within the lateral flow market, particularly in non-COVID-19 sectors such as human health, animal health, plant pathogen and environmental testing.
"Our outlook going into 2023 is unchanged, and we remain confident that our contract services customer base and current growing pipeline mean we are well positioned to grow our business. We are also reassured by our cash levels of £4.4m as at 19 December 2022, in line with the cash position as at the end of October 2022 and expect to have circa £4.3m cash at the end of December. The Board remains confident that we have sufficient cash resources to fund progress beyond the next 12 months, with our priority being to move the Company to a positive cash flow position."
Enquiries:
Abingdon Health plc | www.abingdonhealth.com/investors/ | |
Chris Yates, Chief Executive Officer | Via Walbrook PR | |
Melanie Ross, Chief Financial Officer |
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Chris Hand, Non-Executive Chairman |
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Singer Capital Markets (Sole Broker and Nominated Adviser) | Tel: +44 (0)20 7496 3000 | |
Peter Steel, Alex Bond, Sam Butcher |
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Walbrook PR Limited | Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com | |
Paul McManus / Phillip Marriage Alice Woodings | Mob: +44 (0)7980 541 893 / +44 (0)7867 984 082 +44 (0)7407 804 654 | |
About Abingdon Health plc - www.abingdonhealth.com
Abingdon Health is a world leading developer and manufacturer of high-quality lateral flow rapid tests across all industry sectors, including healthcare and COVID-19. Abingdon is the partner of choice for a growing global customer base and takes projects from initial concept through to routine and large-scale manufacturing and has also developed and marketed its own labelled tests.
The Company offers product development, regulatory support, technology transfer and manufacturing services for customers looking to develop new assays or transfer existing laboratory-based assays to a lateral flow format. Abingdon Health aims to support the increase in need for rapid results across many industries and locations and produces lateral flow tests in areas such as infectious disease, clinical testing including companion diagnostics, animal health and environmental testing. Faster access to results allows for rapid decision making, targeted intervention and can support better outcomes. This ability has a significant role to play in improving life across the world. To support this aim Abingdon Health has also developed AppDx®, a customisable image capturing technology that transforms a smartphone into a self-sufficient, standalone lateral-flow reader.
Founded in 2008, Abingdon Health is headquartered in York, England.