Avacta Group plc (GB:AVCT) has released an update.
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Avacta Group plc, a life sciences company, reports its preliminary results showing a revenue increase to £23.25 million and a reduced operating loss of £28.36 million for the year 2023. The company demonstrates clinical progress with their lead oncology program AVA6000 and is focusing on therapeutic developments after appointing Dr. Christina Coughlin as the new CEO. The positive clinical data bolster confidence in the pre|CISION platform and its commercial potential, leading to strategic plans to divest the Diagnostics Division to concentrate on becoming a pure-play oncology firm.
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