Shares in the oncology consultancy group Physiomics PLC (AIM:PYC) dropped by more than a quarter after the company said it faced revenue pressure due to the biotech funding squeeze and customer diversification efforts.
Merck, a key client, recently streamlined its operations, causing the shortfall.
Total income for the current financial year is predicted to be in the ballpark of £750,000 and Physiomics said remains focused on diversifying its client base.
It aims to expand into adjacent consulting areas and explore personalised medicine opportunities.
In a fairly bloody early session, the stock was down 1.02p, or 27% at 2.73p, having earlier in the session hit 2.5p.