4basebio (4BB) has released its full-year results for the period ended 31 December 2025, reporting an 81% YoY increase in revenue to £1.7m (FY24: £0.9m), broadly in line with our forecasts (FY25E Cavendish: £1.6m). While revenue growth remains encouraging, we believe the increasing contribution from higher-value clinical and GMP-grade supply is becoming a more relevant indicator of underlying commercial progress. In FY25, clinical-stage synthetic DNA accounted for £1.1m (c65%) of revenues, highl ....
