Avacta released its unaudited interim results for the six-month period ended 30 June 2020 on Monday. They detailed a period of significant advancement for the Group despite the restrictions placed upon it by the ongoing Pandemic.
Very much echoing the view of many investors, the Chairman and CEO both described the milestones that the Group shortly expects to pass, including clinical validation of a rapid, saliva based coronavirus antigen lateral flow test and its regulatory filing for AVA6000 pro-doxorubicin, the first pre|CISION pro-drug, as being ‘momentous’.
Together with multiple other pipeline opportunities, some of which have also been created using SARS-CoV-2 spike protein binding Affimers, such as progressing the BAMS™ assay with development partner Adeptrix in order to support CE marking and the recent detection & alert collaboration covering human breath and wastewater, the remainder of the second half and 2021 are likely to a very busy periods on the news front for Avacta.
With access to substantial financial resources, its Board now sees a runway out to 2023 for all planned developments while also satisfying any execution/OEM licensing/supply chain risks as it unlocks the potential of its two innovative therapeutic platforms.
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