Fusion Antibodies 1st Half Pretax Loss Widened, Revenue Rose
December 06 2021 - 3:27AM
Dow Jones News
By Joe Hoppe
Fusion Antibodies PLC said Monday that its pretax loss widened
for the first half of fiscal 2022 despite increased revenue, and it
expects its full-year revenue to meet expectations.
The preclinical antibody discovery company posted a pretax loss
for the six months ended Sept. 30 of 651,000 pounds ($861,664)
compared with a loss of GBP572,000 for the same period a year
earlier.
Revenue rose to GBP2.4 million from GBP1.9 million for the
year-prior period, the company said.
Fusion said the positive first half, and in particular the
securing of two major contracts and its remaining pipeline, give it
confidence full-year revenue will meet expectations. However, the
coronavirus pandemic and status of Brexit
negotiations--particularly those related to Northern
Ireland--continue to provide significant uncertainty. The company
didn't provide any full-year guidance figures.
"We are delighted to report a strong all-round performance for
the first half of the year with good revenue growth, major new
contracts, collaboration agreements and increased investment into
our research programs," Chief Executive Richard Jones said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
December 06, 2021 03:12 ET (08:12 GMT)
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