Biotechnology firm Epistem has delivered steady full-year results, while also accelerating investment in a number of its core development programmes.
Total sales of £5.6m (2011: £5.8m) were driven by a solid performance by Contract Research Services and strong growth in its Personalised Medicine division. The latter delivered more than 100% year-on-year growth, following collaborations with GlaxoSmithKline, Sanofi-Aventis and emerging sales of its Genedrive diagnosis machine.
There has been ongoing investment in its Novel Therapies lead programme and its Diagnostics (Genedrive) programmes. This was the reason it gives for moving into a pre-tax loss of £720,000 from a profit of £357,000.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
A successful £2.7m cash placing, led to a strengthened cash balance of £4.7m at June 30th.
Consensus forecasts for the year ending June 30th 2013 are for a pre-tax loss of £270,000 on turnover of £6.98m.
In the doghouse: hundreds of investment funds are underperforming - is it time to sell?
News The latest Spot The Dog research from Bestinvest reveals 151 funds are failing to beat their benchmark. We reveal the worst performers
By Marc Shoffman Published
Nationwide: House prices creep up for the first time in over a year
Nationwide’s latest house price index reveals property prices are finally rising. Will this pattern continue in 2024?
By Vaishali Varu Published