Nanoco Group PLC (LSE:NANO) said it had a "cash runway" to last into 2025 as it prepares to begin a pre-trial conference this week ahead of its big litigation showdown with Samsung Electronics (KRX:005930) next month.
Ahead of the start of the intellectual property (IP) litigation trial starting on 12 September, the parties and their lawyers will meet the judge on Thursday and/or Friday this week, the next major step since the US Patent Trial and Appeal Board ruled in favour of the UK company in May in all of its patent claims over the alleged wilful infringement of the IP for its cadmium-free quantum dots.
"We move forward with confidence to the scheduled trial," said chief executive Brian Tenner in a statement alongside a year end trading statement.
These revealed Nanoco had an unaudited cash position of £6.8mln at the end of July, reflecting a £5.4mln equity raise in June and "good operating cash performance" during the first half of the year.
Unaudited revenue of £2.4mln was reported for the year to 31 July, 10% higher than the previous year.
The cash position would give the reach calendar year 2025, which the company said would be "beyond the expected point at which the group's organic operations become self-financing", with the order book more than doubled year-on-year and a fifth "major" work package signed in June for a European electronics customer.
Tenner said the company is completing the relocation of its Manchester operations into the consolidated site in Runcorn to deliver operational benefits and save cash.
"The combination of strong progress on the IP litigation and the underlying organic business is a robust platform to deliver significant value to all of our stakeholders in the short to medium term," he said.
Shares in Nanoco fell 2.5% to 47.1p, having rebounded 150% over the past 12 months.