The biotech's full-year results show a sharply growing pipeline and rising revenue, even as the market cap sits at just £11.7m.
Aptamer Group (LSE: APTA) shares held steady at 0.325p, leaving the company valued at £11.7m, after it published full-year results to June 2026 that pointed to building commercial momentum. The sales pipeline grew 46% in just three months, rising from the end of June to reach £7.0m by September, while annual revenue climbed 28% to £1.5m.
The flat share price belies a set of figures that suggest the business is gaining traction, even as losses widened slightly. The EBITDA loss edged up to £2.3m from £2.2m a year earlier, driven by administration expenses rising to £3.2m from £2.9m as the company scaled up activity to support growing demand.
Aptamer specialises in targeting so-called 'undruggable' proteins, developing technology designed to enable the delivery of therapeutics to tissues beyond the liver, a long-standing challenge in drug development. The rapid build in its sales pipeline, up nearly half in a single quarter, signals growing interest from potential partners even as revenues remain modest in absolute terms.
The widening EBITDA loss reflects a company still investing ahead of revenue, with administration costs rising faster than top-line growth as it builds capacity to service a larger pipeline of opportunities. Investors have so far shown little reaction in the share price, which could reflect scepticism about conversion rates or simply a wait-and-see approach to a pre-profit biotech.
The key test for Aptamer will be whether the swelling pipeline converts into booked revenue over the coming quarters, and whether cost discipline can be maintained as the group scales. With a market cap of under £12m, any acceleration in commercial deals could prompt a re-rating, but the shares remain a speculative play on execution.
This report is based on Aptamer Group’s announcement and coverage by UK Investor Magazine. Company announcements can be tracked via London Stock Exchange RNS and Investegate, and the full markets calendar is worth watching for the next update.
This article is for general information only and does not constitute investment advice or a recommendation to buy or sell any security. Photo: Louis Reed on Unsplash.
Small Cap News covers London’s junior market – AIM, small-cap and growth companies – with concise, sourced reporting on the results, deals and regulatory news that move share prices. We track the stories private investors actually need, from contract wins and drilling updates to fundraises and half-year figures, straight from the market’s own announcements.