Proteome Sciences announces its unaudited interim results for the six months ended 30 June 2018
Commenting on these results, Jeremy Haigh, Chief Executive Officer of Proteome Sciences, said:
“Performance during the first six months of 2018 was behind expectations, with recognised revenues from our services business still lagging committed work orders as we continue to build our customer base; TMT® revenues were ahead of the equivalent period in 2017.
Loan Agreement and Notice of Results
The Company announces that it has entered into an unsecured £1,000,000 loan facility agreement (“Loan Facility”) with Vulpes Lifesciences Fund (“Vulpes”) to be used for working capital purposes.
As announced at the time of the AGM on 30 May 2018, the Company has been in discussions with a number of larger shareholders who remain supportive and will provide non-dilutive funding should it be required to facilitate the evolution of the business. The Loan Facility will provide the Company with additional working capital while it continues to invest in growing its services business.
At the AGM held earlier today the CEO, Jeremy Haigh, made a brief statement: “As stated in our recent results, we expect 2018 to be a year of progress as we develop our biomarker services business and the market for TMT® strengthens. Trading is broadly in line with expectations despite a characteristically slower first quarter, and the services business continues to demonstrate significant growth. While the Company remains cash constrained, we have had discussions with a number of our larger shareholders who remain supportive and will provide non-dilutive funding should it be required to facilitate the evolution of the business.”
The Annual Report and Accounts for the year ended 31 December 2017, together with a notice of the Annual General Meeting is available to view on the Companies website www.proteomics.com and will be posted to shareholders imminently.
The Company is pleased to announce its audited results for the year ended 31 December 2017.
Proteome Sciences plc is pleased to announce that Mr Richard Dennis has today been appointed to the Board of Directors.
Electrophoretics Ltd, a wholly owned subsidiary of Proteome Sciences plc, is pleased to announce that it has signed an amendment to the exclusive License and Distribution Agreement with Pierce Biotechnology Inc., a part of Thermo Fisher Scientific Inc., extending the current license to include intellectual property relating to a new class of higher-plex TMT® reagents currently in development.
The Directors look forward to updating shareholders on the Company’s performance, and on the outlook for 2018, at the time we announce our 2017 full year results which are scheduled for release on 24 April 2018.
Annual General Meeting
The Annual General Meeting will take place in London during the last week of May 2018 and further details will be provided in due course.
The Company announces that on 21 March 2018 Roger McDowell, a Non-Executive Director of the Company, sold 500,000 ordinary shares of 1 pence each ("Ordinary Shares") at a price of 3 pence per Ordinary Share and bought, into his SIPP, 500,000 Ordinary Shares at a price of 3.006 pence per Ordinary Share (the "Transfer").