Avacta Group Plc

Equities

AVCT

GB00BYYW9G87

Biotechnology & Medical Research

Market Closed - London S.E. Other stock markets 11:35:17 2024-04-26 am EDT			5-day change	1st Jan Change
48.8 ^GBX	+8.44%		+0.62%	-58.11%

Apr. 22	First Tin updates Tellerhauser estimates	AN
Apr. 10	Transcript : Avacta Group Plc - Special Call

Avacta loss widens on cost rise but clinical tests positive

September 28, 2023 at 06:10 am EDT

Avacta Group PLC - Wetherby, England-based life sciences company that develops targeted oncology drugs and diagnostics - Pretax loss widens to GBP12.8 million in the six months that ended June 30 from GBP9.7 million a year before. Revenue doubles to GBP11.9 million from GBP5.5 million, but selling, general and administrative expenses near double as well, to GBP8.6 million from GBP4.7 million. Research costs are steady at GBP6.0 million. Has GBP26.0 million cash, up from GBP17.0 million a year before, though down from GBP41.8 million on December 31. Highlights success of AVA6000, a chemotherapy drug for cancer patients, in a Phase 1a clinical study. Avacta aims to complete a dose escalation safety study and provide results during the fourth quarter.

Current stock price: 121.10 pence

12-month change: up 10%

By Tom Waite, Alliance News editor

Comments and questions to newsroom@alliancenews.com

Latest news about Avacta Group Plc

First Tin updates Tellerhauser estimates	Apr. 22	AN
Transcript : Avacta Group Plc - Special Call	Apr. 10
Avacta Group plc Reports Data from the Ongoing Phase 1 Clinical Trial of AVA6000 At the AACR Annual Meeting	Apr. 09	CI
Avacta doses third patient in drug conjugate trial for tumour tissue	Mar. 21	AN
Avacta shareholders give AGM go-ahead to issue new shares	Mar. 18	AN
EARNINGS AND TRADING: Harland & Wolff wins major Falklands contract	Mar. 05	AN
Avacta Group Upsizes Share Placement Amid Strong Investor Demand	Feb. 29	MT
Avacta increases placing size to GBP26 million thanks to strong demand	Feb. 29	AN
AIM WINNERS & LOSERS: Beacon Energy and Avacta fall on fundraise	Feb. 29	AN
Avacta plans fundraise to fund clinical development	Feb. 28	AN
Avacta says new head of R&D Coughlin brings "deep expertise"	Jan. 19	AN
Avacta Group plc Announces Appointment of Christina Coughlin as Head of Research and Development and Resignation of Fiona Mclaughlin as Chief Scientific Officer	Jan. 19	CI
Avacta taps biopharma veteran as Therapeutics business chief	Dec. 19	AN
Avacta Group plc Appoints Simon Bennett as Chief Business Officer of the Therapeutics Division	Dec. 19	CI
Avacta says study shows cancer treatment AVA6000 working as planned	Dec. 13	AN
Transcript : Avacta Group Plc - Special Call	Dec. 13
Avacta Group plc Provides Detailed Pre-Clinical, Clinical and Pharmacokinetic Data from the Phase 1A Dose Escalation Study	Dec. 13	CI
Avacta loss widens on cost rise but clinical tests positive	23-09-28	AN
Transcript : Avacta Group Plc, H1 2023 Earnings Call, Sep 28, 2023	23-09-28
Earnings Flash (AVCT.L) AVACTA GROUP Reports H1 Revenue GBP11.9M	23-09-28	MT
Earnings Flash (AVCT.L) AVACTA GROUP Posts H1 Loss GBX-4.28	23-09-28	MT
Avacta Group Plc Reports Earnings Results for the Half Year Ended June 30, 2023	23-09-28	CI
Stocks called up despite China, rate worries	23-09-28	AN
Capital inks contract; Lansdowne becomes cash shell	23-09-20	AN
Avacta Group Plc Announces Management Changes	23-09-20	CI

Chart Avacta Group Plc

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Company Profile

Avacta Group plc is a United Kingdom-based life sciences company focused on improving healthcare outcomes through targeted cancer treatments and diagnostics. The Company has two segments: Therapeutics and Diagnostics. The Therapeutics segment is a clinical stage oncology biotech division harnessing therapeutic platforms to develop novel, highly targeted cancer drugs. The Diagnostics segment is focused on supporting healthcare professionals and broadening access to diagnostics. It has two platforms: preICISION and Affimer. The Company's preICISION platform is a highly specific substrate for fibroblast activation protein (FAP) which is upregulated in most solid tumors compared with healthy tissues. The preICISION platform harnesses this tumor specific protease to activate preICISION peptide drug conjugates and preICISION antibody/Affimer drug conjugates in the tumor microenvironment. Its lead preICISION program AVA6000, a peptide drug conjugate form of doxorubicin, is in Phase 1 studies.

Sector

Biotechnology & Medical Research

Calendar

2024-04-29 - Q4 2023 Earnings Release

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Sell

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Mean consensus

OUTPERFORM

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Last Close Price

0.488 GBP

Average target price

0.9233 GBP

Spread / Average Target

+89.21%

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