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Regenerative medical devices company Tissue Regenix said it would post annual revenue growth of 12% and was continuing to assess various funding options to alleviate significant working capital constraints.
The company said its current cash position of £2.4m provided a 'cash runway' until at least the end of April, given it had lowered costs by letting 18 employees go.
Revenue for the year through December was seen rising to £13.0, up from £11.6m on-year.
Tissue Regenix said it expected to deliver earnings before interest, tax, depreciation and amortisation in line with downgraded guidance provided in October.
The company said it had reduced its headcount by 18 in the fourth quarter.
'As previously announced, the board is seeking to secure alternative funding in the near future which may or may not be forthcoming,' Tissue Regenix said.