Avacta Group AIM:AVCT
- Founded
- 2004 · Wetherby, England
- Incorporated
- United Kingdom
- Chief executive
- Christina Coughlin
- Employees
- 81
- Reports in
- GBP
- Companies House
- 04748597
Clinical-stage life sciences company developing targeted cancer therapies using its pre|CISION tumour-activated drug delivery platform and Affimer affinity reagents. Lead oncology candidates are in early clinical trials; the group has been divesting diagnostics businesses to focus resources on therapeutics.
Read straight from the annual reports
72.0p at close on 2 Oct 2026 · 12 reported years, 2014–2025
| Line | FY201407/14 | FY201507/15 | FY201607/16 | FY201707/17 | FY201807/18 | FY201912/19 | FY202012/20 | FY202112/21 | FY202212/22 | FY202312/23 | FY202412/24 | FY202512/25 | FY2026unreported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | vs 2.1 | later 2.9 | |||||||||||
| Gross profit | vs 1.2 | later 2.8 | |||||||||||
| Operating profit | vs (18.8) | later (23.1) | |||||||||||
| Adjusted operating profit | — | — | — | — | — | — | — | — | — | — | |||
| Exceptional items | — | — | — | — | — | — | — | ||||||
| Net finance cost | later 8.0 | ||||||||||||
| Profit before tax | vs (18.9) | later (31.1) | |||||||||||
| Tax charge | later (4.7) | later (2.0) | |||||||||||
| Profit for the year | later (36.6) | later (33.3) | |||||||||||
| EBITDA | |||||||||||||
| Basic EPS | |||||||||||||
| Diluted EPS | |||||||||||||
| Adjusted EPS | — | — | — | — | — | — | — | — | — | ||||
| Dividend per share | — | — | — | — | — | — | — | — |
GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
12 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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R&D licence/milestone income from AffyXell Therapeutics collaboration (Affimer IP assignment milestones)
Licence-related income of £113,000 in both 2025 and 2024, all attributed to a South Korea-registered customer (AffyXell), 100% of continuing-operations revenue
page 84Divested Diagnostics reagent/test sales (no longer part of the Group)
Discontinued Diagnostics revenue was £6.20 million in 2025 (part-year, to disposal dates) vs £24.31 million in 2024; businesses sold March and August 2025
page 22Increased R&D expenditure as AVA6103 and AVA6000 advance through clinical development
Research costs (continuing operations) rose to £18.76m (2024: £14.27m)
page 23Reduction in SG&A following divestment-related headcount and cost reduction
Administrative expenses (continuing) fell to £9.24m (2024: £12.05m), driven by lower personnel costs post executive changes and reduced legal/professional fees
page 23£300k charge: Termination payments and settlement agreements (restructuring)
page 86Chairman: 'The coming 9-12 months are crucial for the Company as we anticipate seeing the first evidence of the real potential for our innovative Gen Two pre|CISION platform from our exatecan program, AVA6103.'
page 1127 March 2026: oversubscribed placing and director subscription completed, raising gross proceeds of £10.0 million via 15,000,000 new ordinary shares at 63p plus 873,016 shares under director subscription
page 108No dividend proposed or paid for FY2025 (2024: £nil); Board's stated capital allocation priority is investing in R&D programmes rather than shareholder distributions
page 24Financial statements prepared on a going concern basis but auditor BDO LLP (senior statutory auditor Shirley Rogan) identified a 'material uncertainty related to going concern' given the Group's dependence on raising further funds (no agreements in place at signing); audit opinion is otherwise unmodified/unqualified. Key Audit Matters for 2025: going concern, valuation of the convertible bond derivative, and accounting for the modification of the convertible bond. Group audit materiality was £0.63m (2% of operating expenses)
page 56- Reliance on third parties (CROs and other partners) supporting clinical and pre-clinical programmesp.27
- Research and development risk — trials may not succeed or lead to marketable productsp.27
- Funding risk — cash- and resource-intensive development in a challenging biotech financing/macro environmentp.28
- Intellectual property risk — ability to obtain/defend patent protection for pre|CISION and Affimerp.28
Read from C000127-AR-2025-ch.
11 annual reports read, FY2015 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (11)
FY2026Next report expected 7 May 2027