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Aptamer Group Signs Four New Contracts

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The renowned biotechnology company, Aptamer Group, proudly announced on Friday that it has secured four new contract wins over the past three weeks. These contracts, with a total value of up to £507,000 ($646,019), will be implemented over the next six months. While this is certainly a significant achievement, it’s important to note that further short-term funding will still be required.

All four contracts are related to fiscal year 2024 and play a crucial role in helping Aptamer Group achieve its revenue targets for the year ending June 30.

In a recent business update, the company had already outlined its fee-for-service revenue pipeline for fiscal year 2024, which currently stands at around £2.2 million. The £507,000 contract value is inclusive of all four contracts, and the actual recognized revenue will be determined as the contracts progress, accounting for any scientific attrition.

On Tuesday, Aptamer Group issued a going-concern warning, emphasizing that its unaudited cash balance at the end of June was approximately £200,000. Reiterating this concern, the company emphasizes that additional funding will be required in the short term. The board of directors is actively exploring various financing options to ensure the continued success and prosperity of Aptamer Group and its shareholders.

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