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(Sharecast News) - Aptamer Group shares were falling on Wednesday, after the company reported a 27% increase in first-half revenue and outlined progress across its licensing and partnership pipeline, as investors weighed the pace of commercial conversion and near-term financial visibility.
The AIM-traded developer of synthetic binders said unaudited revenue for the six months ended 31 December rose to 0.83m from 0.65m a year earlier.
Its board said that gave it confidence that full-year revenue would materially exceed the prior year.
Aptamer reported a 2026 financial year fee-for-service order book of more than 2m in new contracts, with around 70% expected to be recognised during the current financial year, alongside a sales pipeline of 3.1m.
The group said it continued to execute its strategy to build a sustainable, high-margin business model through a mix of fee-for-service work and licensing.
During the period it signed two non-exclusive licensing agreements with Twist Bioscience and Alphazyme, part of Maravai LifeSciences, providing upfront payments and the potential for milestone, royalty and manufacturing income, with first commercial sales anticipated in the second half of 2026.
Aptamer said a third potential partner, a global enzyme manufacturer, was evaluating its hot-start PCR Optimer under a material transfer agreement, while negotiations were in the final stages for licensing a vitamin B9 Optimer to support global diagnostics.
It also highlighted progress with blue-chip partners, including Unilever programmes advancing through development, repeat licensing potential with Alphazyme, and a major contract win with a top-three pharmaceutical company for radioligand development.
"This has been an exceptional period for Aptamer as we deliver on our strategic commitments to shareholders," said chief executive Dr Arron Tolley.
"The 27% revenue growth, combined with the signing of multiple licensing agreements that are now generating immediate income, demonstrates the commercial validation of the Group's platform and our ability to execute against our stated objectives."
He added that while the update focussed on near-term financial performance, the larger growth opportunity lay in the expanding licensing portfolio.
"Now, with multiple licensing opportunities in advanced stages, a robust sales pipeline of over 3m, and continued strong demand from industry leaders, we are confident in our ability to continue this positive trajectory and create substantial shareholder value."
At 1352 GMT, shares in Aptamer Group were down 7% at 0.93p.
Reporting by Josh White for Sharecast.com.