Last checked at 5 May 2023 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR").
Aptamer Group plc
("Aptamer", the "Company" or the "Group")
Trading Update
Aptamer Group plc (AIM: APTA), the developer of novel Optimer® binders to enable innovation in the life sciences industry, today announces a trading update for the year ending 30 June 2023.
Revenue for the ten months ended 30 April 2023 was approximately £1.4m (unaudited) as the existing pipeline of new business has taken longer than expected to convert, especially licensing and royalty-based contracts, against a backdrop of continuing market headwinds.
The Group now expects full year revenues to be materially below FY2022. The sales pipeline remains healthy across both fee-for-service and licensing, and while the Group expects some of this to be recognised as revenue in the current financial year, the majority, if converted, will fall into the next financial year.
As of 30 April 2023, the Group cash balance was £0.7m. The Group is making cost savings in order to extend the cash runway. As noted in the half year results, continuing reduced revenues would mean that the Group would need to raise working capital. The Board is exploring a range of funding options including non-dilutive and dilutive sources to strengthen the balance sheet, which would also provide a stronger negotiating position with potential new business opportunities.
Further updates will be provided as appropriate.
- ENDS -
For further information, please contact:
Aptamer Group plc
Dr Arron Tolley +44 (0) 1904 217 404
SPARK Advisory Partners Limited - Nominated Adviser
Andrew Emmott / Mark Brady / Adam Dawes +44 (0) 20 3368 3550
Liberum Capital Limited - Broker
Phil Walker / Richard Lindley / Ben Cryer / Cara Murphy +44 (0) 20 3100 2000
Consilium Strategic Communications
Matthew Neal / Chris Welsh / Lucy Featherstone +44 (0) 20 3709 5700
aptamergroup@consilium-comms.com
About Aptamer Group plc
Aptamer develops custom affinity binders through its proprietary Optimer® platform to enable new approaches in therapeutics, diagnostics, and research applications. The Company strives to deliver transformational solutions that meet the needs of life science researchers and developers through the use of its proprietary Optimer platform.
Optimer binders are oligonucleotide affinity ligands that can function as an antibody alternative. The global affinity ligand market is currently worth over $170 billion. Optimer binders are engineered to address many of the issues found with alternative affinity molecules, such as antibodies, and offer new, innovative solutions to bioprocessing, diagnostic and pharmaceutical scientists.
Aptamer has successfully delivered projects for global pharma companies, diagnostic development companies, and research institutes covering a range of targets and applications with the objective of establishing royalty-bearing licenses. Through the unique Optimer technology and processes, scientists and collaborators can make faster, more informed decisions that support discovery and development across the Life Sciences.