Fusion Antibodies shares tumble following downbeat outlook

13th Aug 2018 08:27

(Sharecast News) - Fusion Antibodies shares crashed on Monday morning after the Belfast-based researcher revealed that year-to-date trading had been "slower than anticipated".The AIM-listed antibody engineer warned investors that trading had been hindered by "increasing competition" and "consequential pricing pressures", as well as delays in securing several large contracts.While Fusion anticipates its results for the year ended 31 March to be in line with market expectations, the firm cautioned that its results for 2019 would likely be "significantly behind current market expectations".However, based on the group's current pipeline, Fusion's board still expects to achieve a "modest year-on-year revenue growth".Fusion will turn in its results for the year ended 31 March on 16 August.In other news, Fusion has completed its laboratory capacity expansion on time and within budget as the group attempted to continue to build upon its sales and marketing capabilities across the globe.As of 0825 BST, Fusion shares had sunk 32.51% to 82p.