Aptamer sales pipeline 'strong', more than £3m in advanced discussions

13th May 2024 10:47

(Sharecast News) - Life sciences business Aptamer said on Monday that its current sales pipeline was "strong", with over £3.0m in advanced stage discussions.

Aptamer said a proportion of these advanced-stage deal negotiations were anticipated to progress through its laboratory before the end of the financial year, with the anticipated deal value being in addition to the roughly £1.4m of existing signed deals already at various stages of completion in the production laboratory.

The AIM-listed group noted that revenue recognition on all signed deals was further subject to the receipt of target material in a timely manner from customers and scientific attrition.

Aptamer added that it was continuing to make strides in rebuilding its sales pipeline and "revitalising operations" throughout the laboratory, leading to a growing pipeline conversion, including the successful acquisition of repeat business.

"The company looks forward to providing further updates on conversion of the pipeline to contracts before the year-end. Additionally, there is considerable potential for significant value delivery from ongoing activities in the drug delivery space, with a growing interest from various companies seeking to address the substantial unmet need in this field using Optimer and Optimer+ technologies," said Aptamer.

As of 1415 BST, Aptamer shares were up 2.33% at 0.75p.

Reporting by Iain Gilbert at Sharecast.com