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4basebio on Tuesday reported a wider pretax loss in 2024, despite higher revenue, and said it is optimistic about the year to come.
The Cambridge, England-based producer of synthetic DNA matter said revenue rose to £933,000 last year from £506,000 in 2023. Pretax loss was £12.7 million, widened from £8.4 million, as administrative costs ballooned by 58% to £13.9 million from £8.8 million.
4basebio said a GBP 40 million cash injection from Elevage Medical Technologies and M&G Investments, which concluded in November, was a vote of confidence in its technology.
Heikki Lanckriet, chief executive & scientific officer, said: ‘2024 has been a transformational year of growth for 4basebio, closing the strategic investment by Elevage and M&G, securing MHRA certification and continuing to expand our commercial capabilities and client base.
‘We anticipate continued commercial success and strong revenue growth in the year ahead,’ Lanckriet added.
Shares in 4basebio were up 0.4% at 1,130.00 pence each on Tuesday morning in London.
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