Shares in Bioventix (AIM:BVXP) fell 17% to 1,923p after the diagnostics antibody maker warned of further short-term revenue pressure despite strong progress in its neuroscience research.
For the year to 30 June, revenue slipped 4% to £13.1 million and pre-tax profit eased 5% to £10.1 million, reflecting softer performance in its established antibodies, particularly in China, where government cost-cutting and a push toward local suppliers are eroding royalties.
The company also noted the loss of older contracts and subdued demand in some hormone and drug-testing products.
Despite these headwinds, Bioventix said its newer antibodies used in neurological research, particularly Tau assays for Alzheimer’s disease, are gaining traction, with sales quadrupling to £605,000.
Collaborations with the University of Gothenburg and commercial partners such as Quanterix and Alamar have helped expand its position in the fast-growing neurodiagnostics market.
The company expects revenues to dip slightly again in 2026 before returning to growth as neurological testing and troponin applications begin to scale. A final dividend of 80p takes the total payout to 150p for the year.