Avacta Group (AVCT)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

44.10p
   
  • Change Today:
      0.100p
  • 52 Week High: 159.60
  • 52 Week Low: 41.00
  • Currency: UK Pounds
  • Shares Issued: 359.04m
  • Volume: 873,148
  • Market Cap: £158.34m
  • RiskGrade: 461

Avacta triggers second milestone payment in AffyXell venture

By Josh White

Date: Monday 05 Jun 2023

LONDON (ShareCast) - (Sharecast News) - Life science company Avacta Group announced on Monday that a second milestone equity payment had been triggered, resulting in an increased shareholding for Avacta in AffyXell Therapeutics.
The AIM-traded firm said AffyXell is a joint venture between itself and Daewoong Pharmaceutical of South Korea, focussed on the development of next-generation cell therapies.

It put the milestone's achievement down to Avacta's successful development and characterization of Affimer proteins against the second target of interest for AffyXell.

As a result, Avacta had filed a patent application for the associated intellectual property, thus meeting the conditions necessary to trigger the second milestone payment.

Avacta said its current shareholding in AffyXell stood at 19%, with its exact shareholding increase to be determined through a formal valuation of the joint venture, as was the case with the first milestone payment achieved in April last year.

"We are delighted that such rapid progress has been made with the second target in our joint venture in South Korea," said chief executive officer Dr Alastair Smith.

"There is great potential for AffyXell's novel, engineered mesenchymal stem cell platform incorporating Avacta's Affimer technology to deliver significant improvements to the standard of care for patients with serious diseases.

"We continue to work closely with our colleagues at AffyXell and Daewoong to advance this cutting edge therapeutic platform."

At 1233 BST, shares in Avacta Group were up 2.37% at 110.56p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Avacta Group Market Data

Currency UK Pounds
Share Price 44.10p
Change Today 0.100p
% Change 0.23 %
52 Week High 159.60
52 Week Low 41.00
Volume 873,148
Shares Issued 359.04m
Market Cap £158.34m
RiskGrade 461

Avacta Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
33.69% below the market average33.69% below the market average33.69% below the market average33.69% below the market average33.69% below the market average
49.02% below the sector average49.02% below the sector average49.02% below the sector average49.02% below the sector average49.02% below the sector average
Price Trend
86.1% below the market average86.1% below the market average86.1% below the market average86.1% below the market average86.1% below the market average
51.85% below the sector average51.85% below the sector average51.85% below the sector average51.85% below the sector average51.85% below the sector average
Income Not Available
Growth
62.97% above the market average62.97% above the market average62.97% above the market average62.97% above the market average62.97% above the market average
82.35% above the sector average82.35% above the sector average82.35% above the sector average82.35% above the sector average82.35% above the sector average

What The Brokers Say

Strong Buy 0
Buy 2
Neutral 0
Sell 0
Strong Sell 1
Total 3
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Avacta Group Dividends

No dividends found

Trades for 24-May-2024

Time Volume / Share Price
17:11 22,500 @ 44.10p
16:35 500 @ 44.10p
16:35 500 @ 44.10p
16:29 100,000 @ 42.70p
16:26 2,000 @ 42.95p

Avacta Group Key Personnel

CFO Tony Peter Gardiner
CEO Christina Coughlin

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