Fusion Antibodies (FAB)

Sector:

Health Care

Index:

FTSE AIM All-Share

3.75p
   
  • Change Today:
    -0.100p
  • 52 Week High: 44.00
  • 52 Week Low: 3.20
  • Currency: UK Pounds
  • Shares Issued: 95.37m
  • Volume: 161,817
  • Market Cap: £3.58m
  • RiskGrade: 464

Fusion Antibodies raises £3m for Covid-19 research

By Sean Farrell

Date: Tuesday 28 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Fusion Antibodies has raised £3m from investors to extend its research to cover potential treatments for Covid-19.
The AIM-traded antibody discovery company placed 3.33m new shares with existing and new investors at 90p each - 27% less than the closing price before the sale - to raise £3m before costs. To meet demand its existing shareholders also sold 547,235 shares to raise £492,511.

With scientists vying to find the first treatment for Covid-19, Fusion said it had received several enquiries about providing services for companies working on treatments.

It also plans to carry out its own research into Covid-19 using its antibody engineering platforms. Doing so will require more scientists, new equipment and third-party testing services, it said. The funds will also be used to meet existing oncology targets and for general corporate purposes.

"The race to find solutions to the current global health emergency has begun and so the directors believe that [the] company must act swiftly to take this opportunity to demonstrate the capabilities of its new technology," Fusion said.

The company's shares fell 14.3% to 105p at 11:29 BST.

Fusion said its trading was strong in the year to the end of March and that it ended the year with cash of £1.5m. It said it was positioned to keep trading through the crisis with limited impact on its services.





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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.

 

FAB Market Data

Currency UK Pounds
Share Price 3.75p
Change Today -0.100p
% Change -2.60 %
52 Week High 44.00
52 Week Low 3.20
Volume 161,817
Shares Issued 95.37m
Market Cap £3.58m
RiskGrade 464

FAB Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
94.63% below the market average94.63% below the market average94.63% below the market average94.63% below the market average94.63% below the market average
89.19% below the sector average89.19% below the sector average89.19% below the sector average89.19% below the sector average89.19% below the sector average
Income Not Available
Growth
21.13% above the market average21.13% above the market average21.13% above the market average21.13% above the market average21.13% above the market average
44.44% above the sector average44.44% above the sector average44.44% above the sector average44.44% above the sector average44.44% above the sector average

FAB Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:29 34 @ 3.80p
16:28 26 @ 3.80p
16:13 7,500 @ 3.70p
16:12 5,600 @ 3.70p
15:40 76 @ 3.90p

FAB Key Personnel

Chair Simon Gordon Douglas
CEO Adrian Kinkaid

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