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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Oncimmune Holdings Plc | LSE:ONC | London | Ordinary Share | GB00BYQ94H38 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 23.50 | 22.00 | 25.00 | 19,346 | 16:28:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Medical Laboratories | 1.47M | -6.15M | -0.0830 | -2.83 | 17.42M |
TIDMONC
RNS Number : 1067G
Oncimmune Holdings PLC
14 July 2023
14 July 2023
Oncimmune Holdings plc
("Oncimmune" or the "Company" or the "Group")
Corrected unaudited interim results for the 12 months to 31 May 2022
Oncimmune Holdings plc (AIM: ONC.L), the leading autoantibody profiling company to the pharmaceutical and biotechnology industry, today announces its corrected unaudited interim results for the 12 months to 31 May 2022, which were originally announced on 21 September 2022.
These results were unaudited as the Company had previously announced its intention to change the date of its year end, from 31 May to 31 August, and were required to maintain continuity of financial reporting as the Company was not due to report its subsequent audited results for the 15 months ended 31 August 2022 until early 2023.
As stated in the announcement on 15 June 2023, the financial results of one of the Company's subsidiaries had been incorrectly consolidated into those of the Group, resulting in an overstatement of approximately GBP0.7 million for both revenue and cost of sales at the consolidated Group level. This error had no effect on the gross profit, or the operating loss as previously reported, nor has it had any effect on the reported cash position. Furthermore, this one-off error had no effect on the audited final results for the 15-month period to 31 August 2022, which were announced on 27 February 2023. The unaudited interim results for the six months ended 28 February 2023, as announced on 31 May 2023, were similarly unaffected save for the comparative data for the 12 months to May 2022 in the consolidated income statement.
The corrected unaudited interim results for the 12 months to 31 May 2022 are included in this announcement.
For further information:
Oncimmune Holdings plc
Ron Kirschner, Chief Executive Officer
contact@oncimmune.co.uk
Singer Capital Markets (Nominated Adviser and Broker)
Phil Davies, Harry Gooden, George Tzimas, James Fischer
+44 (0)20 7496 3000
Zeus (Joint Broker)
Dominic King, Victoria Ayton, Dan Bate
+44 (0)20 3829 5000
+44 (0)20 3727 1000
About Oncimmune
Oncimmune is a specialist pharmaceutical services company, primarily focused on the growing fields of immuno-oncology, autoimmune disease and infectious diseases. Oncimmune has a contract discovery and development service business whose ImmunoINSIGHTS platform delivers actionable insights into therapies to the Company ' s pharmaceutical and biotech partners.
Our understanding of the immune system enables us to harness its sophisticated response to disease to detect cancer earlier and to support the development of better therapies. The key to improving cancer survival is early detection and better selection for therapy. As a company, we are driven by our passion to improve cancer survival and to give people extra time.
Oncimmune ' s ImmunoINSIGHTS platform enables life science organisations to optimise drug development and delivery, leading to more effectively targeted and safer treatments for patients. Oncimmune ' s ImmunoINSIGHTS service business at its discovery research centre in Dortmund, Germany. The ImmunoINSIGHTS business development team are based in the US and Europe.
For more information, visit www.oncimmune.com
Consolidated statement of comprehensive income
Unaudited Audited 12 months Year to to 31 May 31 May 2022 2021 GBP'000 GBP'000 Total Total Revenue 3,206 3,722 Cost of sales (1,749) (865) ----------- ----------- Gross profit/(loss) 1,457 2,857 Research and development expenses (1,517) (1,615) Administrative expenses (7,052) (5,652) Share-based payment (1,800) (1,046) (10,369) (8,313) Other income 326 311 ----------- ----------- Operating loss (8,586) (5,145) Finance income - 403 Finance costs (943) (954) Finance costs - net (943) (551) Loss before taxation (9,529) (5,696) Taxation 17 1,068 ----------- ----------- Loss after tax from continuing operations the financial year (9,512) (4,628) Other comprehensive income Exchange translation differences (384) (91) Loss after tax and total comprehensive income for the year attributable to equity holders (9,896) (4,719) Basic and diluted loss per share (13.7)p (7.17)p =========== ===========
Consolidated statement of financial position
Unaudited Audited 31 May 31 May 2022 2021 GBP'000 GBP'000 Assets Non-current assets Goodwill 1,578 1,578 Intangible assets 3,237 4,116 Property, plant and equipment 918 664 Right-of-use assets 627 930 Deferred tax asset 927 937 ----------- --------- 7,287 8,225 ----------- --------- Current assets Inventories 413 143 Trade and other receivables 6,219 7,079 Contract assets 808 200 Cash and cash equivalents 2,530 8,631 ----------- --------- 9,970 16,063 ----------- --------- Total assets 17,257 24,278 =========== ========= Equity Capital and reserves attributable to the equity holders Share capital 695 691 Share premium 40,635 40,497 Other reserves 5,894 4,094 Merger reserve 31,882 31,882 Foreign currency translation reserve (296) 88 Own shares (1,926) (1,926) Retained earnings (79,611) (70,099) ----------- --------- Total equity (2,727) 5227 Liabilities Non-current liabilities Deferred tax 115 374 Lease liability 352 671 Other liabilities 2,000 2000 Borrowings 2,420 6,239 ----------- --------- 4,887 9,284 ----------- --------- Current liabilities Trade and other payables 1,963 1,979 Contract liabilities 5,180 5,175 Other statutory liabilities 40 55 Lease liability 443 310 Other liabilities - - Borrowings 7,471 2,248 ----------- --------- 15,097 9,767 ----------- --------- Total liabilities 19,984 19,051 =========== ========= Total equity and liabilities 17,257 24,278 =========== =========
Consolidated statement of changes in equity
Share Share Other Merger Foreign Own Retained Total capital premium reserves reserve currency shares earnings translation reserve GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 As at 1 June 2020 635 31,459 3,048 31,882 179 (1,926) (65,471) (194) Loss for the year - - - - - - (4,628) (4,628) Other comprehensive income: Currency translation differences - - - - (91) - - (91)
-------- -------- --------- -------- ------------ -------- --------- -------- Total comprehensive expense for the period - - - - (91) - (4,628) (4,719) Transactions with owners: Shares issued in year 50 8,331 - - - - - 8,381 Options exercised 2 106 - - - - - 108 Shares issued in relation to prior year acquisition 4 601 - - - - - 605 Share-based option charge - - 1,046 - - - - 1,046 As at 31 May 2021 691 40,497 4,094 31,882 88 (1,926) (70,099) 5,227 ======== ======== ========= ======== ============ ======== ========= ======== Loss for the year - - - - - - (9,512) (9,512) Other comprehensive income: Currency translation differences - - - - (384) - - (384) -------- -------- --------- -------- ------------ -------- --------- -------- Total comprehensive income - - - - (384) - (9,512) (9,896) Transactions with owners: Shares issued in year - - - - - - - Exercise of options and warrants 4 138 - - - - - 142 Shares issued in relation to - - - - - - - - prior year acquisition Share option charge - - 1,800 - - - - 1,800 As at 31 May 2022 695 40,635 5,894 31,882 (296) (1,926) (79,611) (2,727) ======== ======== ========= ======== ============ ======== ========= ========
Consolidated statement of cash flows
Unaudited Audited 12 months Year to to 31 May 31 May 2022 2021 GBP'000 GBP'000 Cash flows from operating activities Loss before income tax (9,529) (5,696) Adjusted by: Depreciation and amortisation 1429 740 Share-based payment charge 1,800 1,046 Interest received - (403) Interest expense 943 954 Gain on disposal of assets - - Fair value gain - 176 Exchange rate movement 3 - Changes in working capital: (Increase)/decrease in inventories (270) 31 Increase in trade and other receivables 253 (5,837) Increase / (decrease) in trade and other payables (428) 4,841 Cash used in operating activities (5,799) (4,148) Interest paid (169) (885) Interest received - 3 Income tax received (243) 503 ----------- --------- Net cash used by operating activities (6,211) (4,527) ----------- --------- Cash flows from investing activities Purchase of property, plant and equipment (504) (446) Purchase of intangible assets - (625) Proceeds from sale of assets - 215 Net cash (used in)/ generated from investing activities (504) (856) ----------- --------- Cash flows from financing activities Net funds raised through share issue 142 8,489 Loan advances 3,345 2,728 Loan repayments (2,347) (1,135) Principal elements of lease repayments (153) (303) Net cash generated from financing activities 987 9,779 ----------- --------- Movement in cash attributable to foreign exchange (375) (5) Net change in cash and cash equivalents (6,103) 4,391 Cash and cash equivalents at the beginning of the year 8,631 4,240 Cash and cash equivalents at the end of the year 2,528 8,631 =========== =========
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July 14, 2023 09:00 ET (13:00 GMT)
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