News

The Company today provides a trading update for the financial year ending 31 December 2018. 

Unaudited revenues for the full year decreased by 11% to approximately £3.0m (2017: £3.4m). TMT® sales and royalties accounted for approximately £2.1m, reflecting a greater than 10% growth in that underlying business, while revenues from proteomics services were below expectations as a result of a weak first half of the year.  Costs of £4.4m were 12% lower than the previous year (2017: £5.0m) reflecting the ongoing impact of consolidation and restructuring performed in 2017/2018.  The Company anticipates a significantly reduced loss after tax of approximately £1.4m (2017: £2.5m) for the year.

Jeremy Haigh, Chief Executive of Proteome Sciences, commented:  “As predicted, the fourth quarter of 2018 was the strongest for our proteomics services business, during which we recognised about 40% of our annual service revenues and generated work orders to the value of £0.25m.

 The Board of Proteome Sciences plc is pleased to announce that Allenby Capital Limited has been appointed as the Company’s new Nominated Adviser and sole Broker with immediate effect.

Holdings in Company  - TR1 notification was received from Spreadex Limited.

The Company has received notification from Vulpes Life Sciences Fund ("Vulpes") that on 23 November 2018 it purchased 1,000,000 Ordinary Shares of 1p in the capital of the Company ("Ordinary Shares") at 3.16p per Ordinary Share (the “Purchase”). Following the purchase, Vulpes has a total direct and indirect interest in 64,946,734 equivalent to 22% of Proteome Sciences' total issued share capital.

The Company has received notification from Vulpes Life Sciences Fund ("Vulpes") that on 22 November 2018 it purchased 500,000 Ordinary Shares of 1p in the capital of the Company ("Ordinary Shares") at 3.24p per Ordinary Share (the “Purchase”). Following the purchase, Vulpes has a total direct and indirect interest in 63,946,734 equivalent to 21.66% of Proteome Sciences' total issued share capital.

The Company has received notification from Vulpes Life Sciences Fund ("Vulpes") that on 19 November 2018 it purchased 500,000 Ordinary Shares of 1p in the capital of the Company ("Ordinary Shares") at 3.42p per Ordinary Share (the “Purchase”). Following the purchase, Vulpes has a total direct and indirect interest in 63,446,734 equivalent to 21.49% of Proteome Sciences' total issued share capital.

The Company has received notification from Vulpes Life Sciences Fund ("Vulpes") that on 16 November 2018 it purchased 500,000 Ordinary Shares of 1p in the capital of the Company ("Ordinary Shares") at 3.42p per Ordinary Share (the “Purchase”).  Following the purchase, Vulpes has a total direct and indirect interest in 62,946,734 equivalent to 21.32% of Proteome Sciences' total issued share capital.

The Company has received notification from Vulpes Life Sciences Fund ("Vulpes") that on 12 November 2018 it purchased 1,000,000 Ordinary Shares of 1p in the capital of the Company ("Ordinary Shares") at 3.50p per Ordinary Share (the “Purchase”).  Following the purchase, Vulpes has a total direct and indirect interest in 62,446,734 equivalent to 21.15% of Proteome Sciences' total issued share capital.

The Company has received notification from Vulpes Life Sciences Fund ("Vulpes") on 8 November 2018 that it purchased 313,957 Ordinary Shares of 1p in the capital of the Company ("Ordinary Shares") at 3.49p per Ordinary Share (the “Purchase”).  Following the purchase, Vulpes has a total direct and indirect interest in 61,446,734 equivalent to 20.82% of Proteome Sciences' total issued share capital.

The Company is pleased to announce that recognised revenues from services during the third quarter were the strongest this year and early evidence of a characteristically stronger fourth quarter suggests that the value of committed work orders in 2018 should be more than double that achieved in 2017.  However, overall performance remains behind plan and full year service revenues will likely be in line with the previous year reflecting the time taken to execute orders.  Sales and marketing activities are prominent despite a limited budget, with high volumes of customer calls and requests for quotations as well as exhibitions in Germany, US, Denmark, UK and Spain during the fourth quarter.