Proteome Sciences PLC (AIM:PRM) shares shot up in Monday’s early deals on the news of a new £1 million loan and a new leadership update.
The firm, in a statement, announced that it would borrow the cash from Vulpes Investment Management and its chair Christopher Pearce, with the proceeds earmarked to acquire an Exploris mass spectrometer, which is expected to help meet the growing demand for its proteomics services.
It comes as Proteome sees increasing orders in 2025 and 2026, notably it highlighted the strong performance of its TMTpro 35plex tags, which it said have driven order growth and stimulated research showcasing their effectiveness.
Proteome Sciences is also advancing its multiplexed DIA tags, with licensing discussions progressing, and has begun processing initial commercial orders in single-cell proteomics.
In 2025, the company will be led by Christopher Pearce who will take on executive responsibilities from January as chief executive Dr Mariola Soehngen steps down and as CFO Abdel Omari will resign as director and remain with the company as a part-time consultant.
Looking into the new year, Proteome said: “The full-year outcome in 2024 is expected to show good recovery from the impact of the global downturn in biotech over the previous year and the first half of this year.
“Based on the considerable increase in customer orders and services in the second half of the year, we are optimistic that our proteomics business can deliver substantial increases in revenue and returns in the future.”
In London, Proteome shares were up around 8% changing hands at 3p after around an hour of trading, having initially traded up to 3.9p near Monday’s open.