TPI provided its latest research note on Avacta Group plc (AVCT.L)

Avacta has announced its Preliminary Results for the 17-month period ending 31 December 2019.

Its accounts reflect strong revenue growth and a healthy balance sheet; its statement highlights the establishment of multiple, major long-term growth opportunities.

Significantly, post period-end the Group also announced two partnerships established to develop Affimer-based COVID-19 antigen tests, having also completed a £5.75 million fundraising that left the business well capitalised with a £10.5 million net cash position as at 30 April which capitalises the business through into 2022 on its current plans.

This ideally positions the Group, with planned first dosing for its potentially transformational Phase I study of AVA6000 pro-doxorubicin in cancer patients commencing Q4 2020/Q1 2021, while its Affimer technology contributes to a giant, potentially reputation-building global opportunity through its rapid development of highly specific diagnostic reagents for SARS-COV-2 antigen testing across multiple diagnostic platforms.

As such, Avacta presently finds itself in an enviable and well-funded development position relative to most of its peers, while shareholders remain reassured that its management and product direction is focussed on maximising the Group’s near and longer-term commercial opportunities for its platform.

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We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to Avacta Group plc. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2020 Turner Pope Investments (TPI) Limited, all rights reserved.

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