Fusion Antibodies PLC (AIM:FAB) shares rose 4% in early trading after the company announced positive financial progress ahead of its annual meeting.
Revenues for the first half of the financial year are expected to reach £1.2 million, more than double the previous year’s £541,000.
The life sciences group also said it had significantly improved its gross margin, which rose to 29% compared to -16% last year.
Fusion has expanded its collaboration with the National Cancer Institute and secured new contracts, including the development of an antibody therapeutic with a US biotech firm.
The company stated it has a cash runway into the second half of the financial year 2026 and remains focused on achieving cash neutrality.
The stock was up 0.15p at 4.2p.