Avacta’s H121 results show a healthy cash position of £37.0m vs £47.9m at end-December 2020 and £54.5m at end-June 2020. Revenues were £2.3m (H120: £1.8m), with operating loss of £11.3m (H120: £8.1m) and net loss of £10.2m (H120: £7.9m). This was driven largely by the increase in R&D investment to £10.2m (H120: £7.0m). First shipments of AffiDX SARS-CoV-2 antigen lateral flow test (LFT) were made post-period end. Avacta’s strong balance sheet provides a cash runway through to 2023.
30 Aug 2021
Foundations for two healthy businesses now in place
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Foundations for two healthy businesses now in place
Avacta Group PLC (AVCT:LON) | 48.8 -0.2 (-1.0%) | Mkt Cap: 175.0m
- Published:
30 Aug 2021 -
Author:
Lala Gregorek -
Pages:
2
Avacta’s H121 results show a healthy cash position of £37.0m vs £47.9m at end-December 2020 and £54.5m at end-June 2020. Revenues were £2.3m (H120: £1.8m), with operating loss of £11.3m (H120: £8.1m) and net loss of £10.2m (H120: £7.9m). This was driven largely by the increase in R&D investment to £10.2m (H120: £7.0m). First shipments of AffiDX SARS-CoV-2 antigen lateral flow test (LFT) were made post-period end. Avacta’s strong balance sheet provides a cash runway through to 2023.