DeepMatter down after interim update

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DeepMatter down after interim update

The price of shares in AIM-listed digital chemistry specialist DeepMatter Group (LON:DMTR) slipped 7.91% to 1.98p (as of 15:55 BST) as losses for the six months ended 30th June widened. Revenues for the half year were up by 145% and management said that there was a pipeline of new interest in the company’s digital platform linked to recent changes in working practices.

CEO Mark Warner commented: “Over the last year we have achieved encouraging growth in our revenue which has continued into the first half of 2020, despite the challenges imposed by COVID-19. The outlook for our DigitalGlassware™ platform remains positive as pharmaceutical and academic organisations seek solutions for working remotely and in a socially distanced environment.

“We remain cautiously optimistic for the sector in which we operate, observing that M&A activity has bounced back in recent months with pharmaceutical companies collaborating with AI and technology, and we are confident that our enhanced focus on sales will be well received and will contribute to the growth of the business“.

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