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Proteome Sciences narrows losses after sales rose in 2015

The rise of 'precision medicine' continues to support the biomarker business with revenues from licensing, sales and services up 30% in 2015.

test tubes with blood samples
Proteome said its facilities are running at full capacity

Proteome Sciences Plc (LON:PRM) announced narrower losses in 2015 thanks to increased better sales and tighter cost controls.

Turnover for the twelve months to December 31 rose by 20% to £1.88mln, up from £1.56mln in the prior year. Meanwhile, at £1.68mln revenues from licensing, sales and services was 30% better than the year before.

The biomarker business performed particularly well, with 51% growth, while sales of the group’s TMT branded products increased by 33%.

Proteome reported a £2.72mln loss after tax, compared with £3.57mln for the year before.

The company highlighted that its facilities are running at full capacity, demand was growing and it is seeing increased levels of repeat business.

Christopher Pearce, Proteome Sciences chairman, said: "The recognition and requirement for precision medicine has questioned the historic practice of using genomic approaches almost exclusively in drug development and patient management.

“As a consequence there has been increasing acceptance of the inclusion of complementary proteomics approaches and these have been driving considerable interest and activity in our biomarker services business.”

Quick facts: Proteome Sciences PLC

Price: 3.25 GBX

AIM:PRM
Market: AIM
Market Cap: £9.59 m
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