Aptamer Group Revenue Rises 28% but Tax Credit Drives Narrower Loss
Aptamer Group lifted revenue 28% and narrowed its annual loss, but a much larger tax credit did most of the work, the operating loss widened and the auditor flags a going-concern material uncertainty.
Aptamer Group (AIM: APTA) grew revenue 28% to £1.5m in the year to the 30th of June and narrowed its loss to £1.9m.The York-based company makes Optimer synthetic binders, an alternative to antibodies, and has reported its full-year results.
Revenue was £1,544k against £1,203k a year earlier, and gross profit rose to £822k from £579k. Cash at the year end was £4,358k, up from £1.1m, after an April fundraising that raised £4.5m before costs and £4.1m after.
Several top 20 pharma customers each spent more than £500,000. Aptamer also out-licensed enzyme-modulating Optimers to Twist Bioscience and Alphazyme, each deal bringing an upfront payment, royalties and supply revenue, and it has received its first licensing payments.
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New work included a £360,000 radioligand contract with a top 3 pharma company and more than £0.75m of new contracts from a top 5 pharma company.
The smaller loss owes much to tax. Aptamer booked a £925k tax credit, a government refund, against £145k before. The operating loss widened to £2,798k from £2,539k, and administrative expenses rose to £3.2m from £2.9m.
Adjusted EBITDA, which is earnings before interest, tax, depreciation and share-based pay, was a loss of £2.3m against £2.2m. The loss for the year was £1,862k against £2,424k, or 0.07p a share against 0.14p.
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Aptamer Group’s revenue, loss for the year, adjusted EBITDA loss and year-end cash, FY2025 against FY2026, in £m. Revenue and cash rose, while the adjusted EBITDA loss edged up.
The auditor gave an unqualified opinion but drew attention to a material uncertainty over going concern, meaning significant doubt about the company’s ability to keep operating. The Board says cash gives a runway into calendar 2028 before any further licensing receipts.
Dr Arron Tolley, chief executive, summed up the year:
This has been a year of inflection for Aptamer.
Dr Arron Tolley, CEO
The sales pipeline stood at £4.8m on the 30th of June and £7.0m by the 21st of September. Master service agreements are in advanced negotiation, an AI programme is in laboratory validation, and four further parties are evaluating licences.
One licence carries a 2% royalty on an immunohistochemistry reagent, subject to validation. A radiotherapeutic programme is under way with Radiopharmium.
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