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Zak Mir talks to Adrian Kinkaid, CEO (AIM:FAB) Fusion Antibodies

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Sinopsis

Fusion Antibodies plc (AIM: FAB), as the Early Discovery Contract Research Organisation specialising in pre-clinical antibody discovery, announces its unaudited interim results for the six months ended 30 September 2023 and provides an update on recent commercial progress. Operational highlights ·    Increased numbers of commercial opportunities identified and improving pipeline valuation ·    A number of projects delayed by clients as they seek further investment ·    Progress in development of the OptiMAL® library, with demonstration of whole IgG antibodies expressed on the cell surface ·    £1.67 million fundraise alongside £1.6 million cost rationalisation exercise ·    Appointment of Stephen Smyth as interim CFO Financial highlights ·    Revenue of £541k (H1 FY2023: £1.9 million) ·    Expenditure on R&D decreased by 60% to £0.18 million (H1 FY2023: £0.45 million) ·    Loss of £1.4 million (H1 FY2023: £1.1 million loss) ·    Cash position at 30 September 2023 was £0.5 million (31 March 202