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Fusion Antibodies Plc (FAB) AI Stock Analysis

GB:FAB

Fusion Antibodies Plc

(LSE:FAB)

Select Model
Rating:39Underperform
Price Target:GBX 5.00â–¼(-16.67% Downside)
Action:downgraded
Date:10/16/26

The score is primarily constrained by persistent losses and substantial cash burn. Bearish technical positioning and the negative P/E ratio add further risk, while recent revenue and gross-margin improvement and low leverage provide only limited support.

Positive Factors
Revenue reboundThe strong 2026 revenue rebound indicates that customer demand and project activity can recover materially after a weaker period. If this improvement persists, greater scale could support better utilization, strengthen the company’s position in antibody services, and provide a foundation for future operating leverage.
Negative Factors
Persistent operating lossesVery negative operating and net margins show that the current revenue base is not yet sufficient to cover the company’s cost structure. Continued losses reduce financial resilience, make earnings dependent on future growth or funding, and indicate that sustainable profitability remains an unresolved fundamental challenge.

Fusion Antibodies Plc (FAB) vs. iShares MSCI United Kingdom ETF (EWC)

-60%-40%-20%0%20%40%60%GB:FAB-52.94%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
GBP 7.51M
Dividend Yield
―
Average Volume (3M)
536.10K
Price to Earnings (P/E)
-6.1
Beta (1Y)
-0.65
Revenue Growth
7.38%
EPS Growth
44.13%
Country
UK
Employees
27
Sector
Healthcare
Sector Strength
51
Industry
Biotechnology

Fusion Antibodies Plc Business Overview & Revenue Model

Company Description

Fusion Antibodies plc operates as a contract research organization (CRO), providing specialized services in the research, development, and manufacturing of recombinant proteins and antibodies. The company primarily focuses on solutions for oncology a...

How the Company Makes Money

Fusion Antibodies makes money primarily by selling fee-for-service R&D and development work to external customers on a project basis. Key revenue streams typically include: (1) Contract antibody discovery and generation work, where clients pay for th...

Fusion Antibodies Plc Financial Statement Overview

Summary

Persistent operating and net losses, ongoing negative operating and free cash flow, and continued funding needs outweigh recent revenue recovery, improved gross margin, and low leverage.

Income Statement

35Negative

Balance Sheet

45Neutral

Cash Flow

28Negative
Financial statement breakdown
BreakdownTTMMar 2025Mar 2024Mar 2023Mar 2022Mar 2021
Income Statement
Total Revenue2.11M2.11M1.97M1.14M2.90M4.80M
Gross Profit1.10M1.10M430.00K-265.00K202.00K1.72M
EBITDA-1.51M-1.85M-1.62M-2.06M-2.48M-573.00K
Net Income-1.15M-1.15M-1.71M-2.23M-2.60M-1.20M
Balance Sheet
Total Assets2.73M2.73M1.32M2.42M2.06M4.92M
Cash, Cash Equivalents and Short-Term Investments1.04M1.04M359.00K1.20M195.00K2.05M
Total Debt331.00K331.00K20.00K43.00K75.00K69.00K
Total Liabilities1.10M1.10M654.00K627.00K939.00K1.23M
Stockholders Equity1.62M1.62M669.00K1.79M1.12M3.68M
Cash Flow
Free Cash Flow-1.17M-1.17M-1.37M-1.77M-1.87M-591.00K
Operating Cash Flow-1.11M-1.11M-1.36M-1.77M-1.75M-333.00K
Investing Cash Flow-60.00K-60.00K-5,0001,000-114.00K-258.00K
Financing Cash Flow1.85M1.85M529.00K2.77M7,000-46.00K

Fusion Antibodies Plc Technical Analysis

Technical Analysis SentimentNegative
Last Price6.00

Price Trends

50DMA9.86Negative
100DMA10.42Negative
200DMA11.99Negative

Market Momentum

MACD-1.31Positive
RSI30.21Neutral
STOCH62.94Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:FAB, the sentiment is Negative. The current price of 6.00 is below the 20-day moving average (MA) of 7.59, below the 50-day MA of 9.86, and below the 200-day MA of 11.99, indicating a bearish trend. The MACD of -1.31 indicates Positive momentum. The RSI at 30.21 is Neutral, neither overbought nor oversold. The STOCH value of 62.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:FAB.

Fusion Antibodies Plc Peers Comparison

Overall Rating

UnderperformOutperform
Sector (51)

Financial Indicators

GB:FAB against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
GB:BVXPGB:BVXP89OutperformGBP 104.50M13.7967.81%7.50%-1.10%0.32%
Sector *51Neutral$7.86B-0.30-43.30%2.27%22.53%-2.21%
GB:APTAGB:APTA43NeutralGBP 10.23M-9.83-46.61%―28.35%57.14%
GB:AVCTGB:AVCT43NeutralGBP 294.51M-6.63-1293.07%―――
GB:SCLPGB:SCLP43NeutralGBP 105.95M-4.99128.87%―-100.00%-30.39%
GB:GENFGB:GENF42NeutralGBP 10.85M-8.29609.63%――56.00%
GB:FABGB:FAB39UnderperformGBP 7.51M-6.06-97.87%―7.38%44.13%

* Healthcare Sector Average

Performance Comparison

-50%0%50%100%150%GB:FABGB:AVCTGB:BVXPGB:SCLPGB:GENFGB:APTADec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
GB:FAB and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
GB:FABFusion Antibodies Plc6.00-7.50-55.56%
GB:AVCTAvacta Group plc60.50-11.50-15.97%
GB:BVXPBioventix plc2000.00-17.66-0.88%
GB:SCLPScancell Holdings87.40-11.10-11.27%
GB:GENFGenflow Biosciences Plc1.82-0.25-12.05%
GB:APTAAptamer Group Plc0.29-0.51-63.13%

Fusion Antibodies Plc Corporate Events

Business Operations and Strategy

Fusion Antibodies wins complex antibody project from major pharma client

Positive
Oct 22, 2026

Fusion Antibodies plc has secured a new contract from a US-based specialty division of a global pharmaceutical company to deliver transient gene expression of the client’s lead antibody followed by a cryogenic electron microscopy study. The pro...

Business Operations and StrategyFinancial Disclosures

Fusion Antibodies Wins Complex Antibody Development Contract with Global Pharma Client

Positive
Oct 22, 2026

Fusion Antibodies plc, a Belfast-based CRO focused on antibody engineering and pre-clinical development for therapeutic and diagnostic uses, provides end-to-end services from antibody generation and humanisation to stable cell line production. The AI...

Business Operations and StrategyShareholder Meetings

Fusion Antibodies AGM Resolutions Passed as Company Targets Expanding Antibody Market

Positive
Oct 15, 2026

Fusion Antibodies plc, a specialist in antibody engineering and pre-clinical discovery services for pharma and diagnostics clients, reported that all resolutions at its annual general meeting were duly passed. The Belfast-based CRO, listed on AIM, co...

Business Operations and StrategyFinancial Disclosures

Fusion Antibodies Warns on H1 Trading but Flags Progress in DR5 Programme and OptiMAL Platform

Negative
Oct 15, 2026

Fusion Antibodies has reported a sharp decline in first-half trading, with unaudited H1 FY27 revenues falling to about £457,000 from £838,000 a year earlier and gross margin compressed to 10% amid difficult market conditions. Cash at 30 Sep...

Business Operations and StrategyProduct-Related Announcements

Fusion Antibodies launches revamped customer-focused website to showcase antibody services

Positive
Oct 5, 2026

Fusion Antibodies plc, a specialist in pre-clinical antibody discovery and engineering, has launched a redesigned customer-focused website aimed at better presenting its discovery, engineering and supply capabilities. The updated site is designed to...

Financial DisclosuresShareholder Meetings

Fusion Antibodies Publishes 2026 Annual Report and Sets AGM Date

Neutral
Sep 22, 2026

Fusion Antibodies plc, a specialist in antibody engineering and related contract research services for pharmaceutical and diagnostic companies, has built a strong track record in antibody generation and humanisation using its proprietary technologies...

Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing

Fusion Antibodies boosts margins and cash as OptiMAL launch and patents strengthen growth platform

Positive
Sep 15, 2026

Fusion Antibodies reported audited revenues of £2.1 million for the year to 31 March 2026, with underlying service revenue of £1.86 million and second-half revenue up 21% versus the first half. The company’s gross margin rose sharply...

Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingProduct-Related Announcements

Fusion Antibodies boosts margins and cash as OptiMAL launch and patents advance

Positive
Sep 14, 2026

Fusion Antibodies reported audited revenues of £2.1m for the year to 31 March 2026, with underlying service revenue of £1.86m and a 21% second-half uplift that helped lift gross margin to 53%. The operating loss narrowed to £1.13m desp...

Business Operations and StrategyProduct-Related Announcements

Fusion Antibodies Wins Canadian Patent for OptiMAL Antibody Library

Positive
Sep 9, 2026

Fusion Antibodies plc, a Belfast-based CRO focused on antibody engineering for therapeutic and diagnostic use, provides end-to-end services spanning antibody generation, development, production, characterisation and optimisation. The AIM-traded compa...

Business Operations and StrategyFinancial Disclosures

Fusion Antibodies to unveil annual results with open investor presentation

Positive
Sep 9, 2026

Fusion Antibodies Plc, a Belfast-based specialist in pre-clinical antibody discovery and engineering, operates as a contract research organisation serving therapeutic and diagnostic markets. The AIM-listed company offers end-to-end antibody generatio...

Business Operations and StrategyRegulatory Filings and Compliance

Fusion Antibodies Secures Australian Acceptance for Antibody Library Patent

Positive
Aug 6, 2026

Fusion Antibodies has received a notice of acceptance from IP Australia for its Australian patent application covering an antibody library and associated design methods. The patent, once granted, is expected to enhance the company’s Opti-design...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 16, 2026