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AIM-listed contract research outfit Fusion Antibodies (LON:FAB) has warned that trading in the year to date has been slower than expected, as increased competition has led to lower prices and delays on contract agreements. As a result, the firm has said that full year results will be substantially lower than forecast, though there should still be a modest year-on-year improvement in revenues.
The company’s laboratory expansion has been completed on time and within budget and the affinity maturation project will complete in December this year. Management believe that these investments, along with improved international sales and marketing operations, will allow it to distinguish itself from competitors.
Shares in Fusion Antibodies dropped by 30.04% to 85p.