UK's Oncimmune Holdings falls on wider loss for FY2022

Oncimmune Holdings

27/02/2023 09:36

** Shares of cancer diagnosis company Oncimmune Holdings
 ONCON.L  falls as much as 31.7% to 38.4p; stock top pct loser
on FTSE All-Share index  .FTAS 
    ** Shares at its lowest since March 2020
    ** Co reports wider loss after tax of 11.52 mln pounds 
($13.78 mln) vs 5.08 mln pounds reported a year ago, due to
expansion of its ImmunoINSIGHTS pharma services business
    ** CEO Adam Hill warns about short-term challenges in
operating environment and in financing, while also expecting
business to perform in line with previously reported
expectations
    ** However, co anticipates revenue for first half of 2023 to
exceed revenue generated in whole of 15-month period to Aug. 31,
2022
    ** Stock set to record its worst day ever, if trend holds
    ** Including session's losses, stock has fallen ~36% YTD


($1 = 0.8358 pounds)

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))