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Aptamer Group PLC on Tuesday expressed optimism for the future tied to commercial relationships, financial strength and an expanding pipeline, as it posted a narrowed full-year loss.
The York, England-based synthetic binders developer reported a pretax loss of £2.6 million for the financial year that ended June 30, narrowing from £3.1 million a year prior.
Driving the improved bottom line was a mix of top-line gains and lower costs.
Revenue advanced 40% to £1.2 million from £860,000, which Aptamer said reflects ‘accelerating commercial traction’.
The company noted repeat business with ‘multiple top 20 pharmaceutical companies’.
Further supporting the bottom line, administrative expenses fell 7.5% to £2.9 million from £3.2 million, owing to ‘continued cost discipline’.
More specifically, employee costs reduced to £1.9 million from £2.1 million, and Aptamer reported a ‘slight decrease’ in its operational footprint.
Looking ahead, Aptamer said it enters the new financial year in a position to deliver sustained growth, owing to a combination of ‘accelerating commercial traction, a dramatically expanded licensing portfolio...and strengthened financial resources.’
In July, the company completed a £1.8 million fundraising.
Shares in the company fell 11% to 0.88 pence on Tuesday afternoon in London.
‘This has been a year of significant strategic progress for Aptamer as we continued to expand the breadth and commercial reach of our Optimer platform. With a 40% increase in revenue and a growing base of repeat business from leading pharmaceutical partners. Our technology is gaining strong traction across life sciences and adjacent markets,’ said Chief Executive Arron Tolley.
‘Looking ahead, the successful £1.8 million fundraising completed after year-end provides the resources to accelerate our growth strategy, strengthen in-house manufacturing, and advance high-value Optimer programmes. With an expanding pipeline, deepening commercial relationships, and a robust financial position, we are well-placed to deliver long-term value for our shareholders,’ continued Tolley.
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