LONDON (ShareCast) - Shares in Proteome fell sharply on Wednesday after the group warned its revenue for the current year will be lower than market expectations and "somewhat" lower than the revenues achieved in 2013.
The protein biomarker group explained that it had seen a continuation of the previously flagged delay to the start date of several contracts, the revenue for which is now expected to be reflected in 2015.

It did, however, add that this revenue would be supported by strong underlying growth in both biomarker services and TMT.

Proteome also said that commercial discussions to out-license the diagnostic applications for MCI/AD detection had begun with a number of interested parties who have signed confidentiality agreements.

"The CK1d dossier has been completed and the process to progress the outlicensing programme with pharmaceutical companies has started," the company said.

"Both are high value applications in Alzheimer's disease and should provide a combination of signature fees, milestone payments and royalties. We expect to have fuller visibility of these in 2015."

The company's cash position remained "healthy", with cash at bank at the end of 31 October totalling £1.72m.

"We are seeing further underlying growth in our pipeline and core technologies and remain confident that this should be reflected in revenues in 2015 and beyond," it added.

Shares had fallen 14.85% to 29.17p by 11:54.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE