LONDON (ShareCast) - (Sharecast News) - Shares in drug development services group Proteome Sciences rose on Monday after the company said 2024 results should reflect a good recovery and that its pipeline is looking strong for next year.
The company, which provides proteomics (study of proteins) services for drug development, said interest has remained healthy this year with its order book growing despite a challenging biotech market - even though the translation into revenues was delayed until the second half.

It said that the strong momentum noted at the half-year stage - with increases in orders for both the TMT and its services business - has continued. "In particular, the strong growth in the company's services business orders has carried over into the 2025 and 2026 pipeline and the board expects this to be reflected in the 2025 results," the company said.

The update came as Proteome Sciences entered into a new £1m loan facility to help with the acquisition of a new Exploris mass spectrometer to further expand its capacity for future orders - as well as to provide additional working capital for the company.

In other news, the company announced chairman Christopher Pearce would take up the role of executive chair ahead of the imminent department of its chief executive Mariola Soehngen - announced in September - until a successor is found.

Meanwhile, chief finance office Abdel Omari will resign from the board at the end of January to pursue other opportunities, but will continue on as a financial consultant and adviser to the board.

Shares were up nearly 8% at 3p by 1153 GMT, but still stand 37% down over the year to date.

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