Oncimmune is building momentum in key areas says broker finncap

Oncimnune PLCs (LON:ONC) trading update highlights the momentum building with the AIM-listed biotech group, according to broker finncap.

Both the product (EarlyCDT Lung) and service businesses are making commercial progress as well as fulfilling the strategic objective of diversifying the revenues streams.

Three contracts were signed with pharma/biotech the last quarter of 2020, for example, that are expected to build into long-term, value-accretive partnerships, said the broker.

The trading update for the year to 31 May points to full-year sales being in line with forecasts with year-end cash of about £4.2mln.

A positive outlook statement, pointing to an acceleration in EarlyCDT Lung revenues and an enlarging pipeline of contracts within the ImmunoINSIGHTS services business mean finncaps forecasts are unchanged, while it has reiterated its 150p share price target.

In a trading update for the 12 months toRead More – Source