REG - Aptamer Group PLC - Trading Update

AptamerAnnouncement

04/07/2023 07:00

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RNS Number : 8307E  Aptamer Group PLC  04 July 2023

4 July 2023

 

Trading Update

 

Aptamer Group plc (AIM: APTA), the developer of novel Optimer(®) binders
to enable innovation in the life sciences industry, today announces an update
on trading and its working capital position.

 

Unaudited revenue for the year ended 30 June 2023 ("FY23") was approximately
£1.75 million, which is in line with the comments made in the statement
released by the Company on 5 May 2023. Looking ahead, the pipeline for
fee-for-service revenues for the year to June 2024 ("FY24") currently stands
at approximately £2.2 million across 30 discrete fee-for-service projects
(after risk-adjustment for anticipated commercial and scientific attrition).
Note that this figure only includes opportunities for which the Group has
current visibility and further opportunities over the course of FY24 are
expected to increase this figure. In addition, this figure does not include
licensing opportunities which could make a meaningful upside contribution to
revenue.

 

With a prudent view on the development of revenues from licence fee
arrangements, the Group is targeting a reduction in operating cash outflow to
below £3 million for FY24 (compared with more than £6 million for FY23)
following a reset of the cost base, and to reach positive cash flow by the end
of FY26, which will require approximately £6 million of revenue in FY26.

 

The Group's unaudited cash balance at the end of June was £0.2 million. In
addition to trading income in July, further funding will be required in the
short term in order to continue as a going concern. The Directors are actively
reviewing all possible financing options that are in the best interests of the
Company and its shareholders and continue to take steps to carefully manage
its working capital. Whilst the Board is aiming for a satisfactory outcome of
the financing there can be no certainty that these discussions will be
successful, nor as to the terms or timing thereof.

 

Further updates will be provided as appropriate.

 

 

- ENDS -

 

For further information, please contact:

 

Aptamer Group plc

Dr Rob
Quinn
+44 (0) 1904 217 404

SPARK Advisory Partners Limited - Nominated Adviser

Andrew Emmott / Mark Brady / Adam Dawes
                                +44 (0) 20 3368
3550

Liberum Capital Limited - Broker

Phil Walker / Richard Lindley / Ben Cryer / Cara Murphy
+44 (0) 20 3100 2000

Consilium Strategic Communications

Matthew Neal / Lucy Featherstone
          +44 (0) 20 3709 5700

aptamergroup@consilium-comms.com (mailto:aptamergroup@consilium-comms.com)

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018.

About Aptamer Group plc

Aptamer (http://www.aptamergroup.com/) develops custom affinity binders
through its proprietary Optimer(®) platform to enable new approaches in
therapeutics, diagnostics, and research applications. The Company strives to
deliver transformational solutions that meet the needs of life science
researchers and developers through the use of its proprietary Optimer
platform.

Optimer binders are oligonucleotide affinity ligands that can function as an
antibody alternative. The global affinity ligand market is currently worth
over $170 billion. Optimer binders are engineered to address many of the
issues found with alternative affinity molecules, such as antibodies, and
offer new, innovative solutions to bioprocessing, diagnostic and
pharmaceutical scientists.

Aptamer has successfully delivered projects for global pharma companies,
diagnostic development companies, and research institutes covering a range of
targets and applications with the objective of establishing royalty-bearing
licenses. Through the unique Optimer technology and processes, scientists and
collaborators can make faster, more informed decisions that support discovery
and development across the Life Sciences.

 

 

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