Fusion Antibodies PLC (AIM:FAB) saw its shares rise by 12% after confirming it has a cash runway extending into the second quarter of 2025.
Fusion, specialists in pre-clinical antibody discovery and engineering, highlighted positive momentum in the first quarter of its current year, with revenues of approximately £522,000, more than double the figure recorded 12 months ago.
The company secured its first OptiPhageT contract for a non-human antibody species and continued its collaboration with the National Cancer Institute for the use of OptiMAL.
Additionally, Fusion received further purchase orders under a master services agreement with a leading diagnostics company and maintained multiple therapeutics projects with a US-based biotechnology client.
Its order book at the end of June stood at approximately £700,000, with revenue expected to be recognised within the current financial year. The company is progressing several significant projects and collaborations, indicating strong evidence of its effective commercial and diversification strategies.