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Avacta Group Plc

Avacta hails “period of significant advancement”

Listed biotechnology business Avacta Group has hailed a “period of significant advancement” in its interim results, with “several momentous milestones” now on the horizon.

The company, which as sites in Wetherby and Cambridge, reported revenue of £1.8m for the six months to 30 June 2020, up from £1.1m in the same period of 2019.

Operating losses widened to £8.1m from £6.6m, with research and amortisation of development costs increasing to £4.2m from £2.9m the year before.

Avacta Group Plc (LON:AVCT) offers reagents and therapeutics based on Affimer technology for diagnostic and research applications in the United Kingdom. The company’s custom Affimer products are also used in drugs and biomarkers discovery in biotech research and development.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.