Proteome Sciences (LSE:PRM) has secured a substantial new contract valued at more than £500,000 to deliver mass spectrometry services in support of a clinical trial for a US-based biopharmaceutical company. Chief Commercial Officer Richard Dennis noted increased interest from customers and expects this heightened demand to persist through 2024. Leveraging the company’s Good Clinical Laboratory Practice accreditation, most of the contracted work is scheduled for completion within the current financial year.
Despite this encouraging commercial development, Proteome Sciences continues to face significant financial headwinds. The company has been contending with shrinking revenues, ongoing losses, and elevated debt levels. Technical indicators reinforce a bearish outlook, with shares trading below key moving averages and showing weak momentum. A negative price-to-earnings ratio and absence of dividend payments further strain valuation metrics, contributing to a challenging overall outlook.
More about Proteome Sciences
Proteome Sciences is a biotechnology company specialising in proteomics, focusing on the discovery and development of protein biomarkers for use in diagnostics and therapeutics. Listed on the AIM market, the company is committed to expanding both its scientific capabilities and commercial footprint within the biopharma sector.
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