Avacta Group plc (LSE:AVCT) has finalized the sale of its entire shareholding in Coris Bioconcept SRL to 3B BlackBio Dx Ltd, following completion of all closing requirements. This divestment allows Avacta to concentrate on its core business of developing targeted oncology therapies, potentially strengthening its position within the life sciences sector.
While strategic progress in its oncology programs offers some optimism, Avacta continues to face financial challenges, including ongoing losses and the need for additional funding. Technical indicators provide limited short-term support, but the overall outlook remains cautious.
About Avacta Group plc
Avacta Group plc is a clinical-stage life sciences company dedicated to developing innovative, targeted oncology drugs. Its proprietary pre|CISION® platform enables highly potent therapies to be delivered directly to tumor microenvironments while reducing effects on healthy tissues. Avacta’s pipeline includes pre|CISION® peptide drug conjugates and Affimer® drug conjugates, offering distinct advantages over conventional antibody-drug conjugates.
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