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Antibody discovery specialist Fusion Antibodies posted a first-half loss, as expenses offset a rise in revenue.
Pre-tax losses for the six months through September amounted to £0.62k, compared to losses of £0.89m on-year.
Revenue increased to £1.75m, up from £0.66m.
Cash at the end of September was £1.31m, compared to £1.98m a year earlier.
'Our revenues are growing apace, and we have seen a solid improvement in the performance of the business for this period, compared to the previous six months,' chief executive Paul Kerr said.
'We have received our first commercial revenues from early adopters of Rational Affinity Maturation Platform, and the feedback from the service has been very promising.'
'We are on target to deliver significant revenue growth year on year.'
At 2:09pm: (LON:FAB) Fusion Antibodies Plc Ord 4p share price was +1.5p at 76.5p