York-based Aptamer Group expects full year revenues to be 'materially below' 2022
Aptamer said that unaudited revenue for the 10 months ended April 30 2023 was approximately £1.4m. It said the existing pipeline of new business has taken longer than expected to convert, especially licensing and royalty-based contracts, against a backdrop of market headwinds. The statement added: “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.”
“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.”