Share price rises 11% at healthtech firm
Health and life sciences business Avacta’s share price rose more than 11% yesterday following the news that its Affirmer product had moved on to human samples.
Its share price rose 11.48%, closing at 68.0p per share after results announcement.
The Wetherby-based business reported widened pre-tax losses, but a major increase in investment in research and development had investors in a frenzy. It said that R&D costs had increased to £1.28m from £460,000 the year before as it looked to focus on further deloping its Affirmer product.
Avacta’s share price had been making a steady decline since August last year and pre-tax losses widened to £3.9m for the half year, an increase on the £2m loss made in the same period last year.
However turnover also increased 20% to £1.26m, a positive sign for the growing firm.
Avacta’s one0year share price graph for 4 April 2017, courtesy of the London Stock Exchange
More articles in
Sectors
