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Fusion Antibodies Plc
(LSE:FAB)
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Rating:47Neutral
Price Target:
12.00 p
▲(6.67% Upside)
Action:Reiterated
Date:09/17/26
The score is held down primarily by weak financial performance—large ongoing losses and persistent negative free cash flow—despite improving revenue and gross margin. Technicals are neutral overall (mixed moving averages and mid-range RSI), while valuation remains unfavorable due to negative earnings and no dividend support.
Positive Factors
Revenue and gross-margin rebound
The sharp rebound in revenue and gross margin indicates improved recent demand and delivery economics across the company’s services. If retained, stronger gross profitability could provide a better base for funding research capacity and moving toward eventual operating leverage.
Negative Factors
Severe operating losses
Very negative operating and net margins show that the recent revenue recovery has not yet translated into sustainable profitability. Continued losses can consume equity, restrict internally funded investment, and leave results highly sensitive to further changes in project volume.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and gross-margin rebound
The sharp rebound in revenue and gross margin indicates improved recent demand and delivery economics across the company’s services. If retained, stronger gross profitability could provide a better base for funding research capacity and moving toward eventual operating leverage.
Read all positive factors
Fusion Antibodies Plc (FAB) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£14.08M
Dividend YieldN/A
Average Volume (3M)469.28K
Price to Earnings (P/E)―
Beta (1Y)-0.37
Revenue Growth7.38%
EPS Growth44.13%
CountryUK
Employees27
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding125,156,876
10 Day Avg. Volume376,357
30 Day Avg. Volume469,280
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)8.89
Price to Sales (P/S)6.83
P/FCF Ratio-12.33
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)£2.10M
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 oncolog...
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...
Fusion Antibodies Plc Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
26
Negative
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.11M | 1.97M | 1.14M | 2.90M | 4.80M |
| Gross Profit | 1.10M | 430.00K | -265.00K | 202.00K | 1.72M |
| EBITDA | -1.85M | -1.62M | -2.06M | -2.48M | -573.00K |
| Net Income | -1.15M | -1.71M | -2.23M | -2.60M | -1.20M |
Balance Sheet | |||||
| Total Assets | 2.73M | 1.32M | 2.42M | 2.06M | 4.92M |
| Cash, Cash Equivalents and Short-Term Investments | 1.04M | 359.00K | 1.20M | 195.00K | 2.05M |
| Total Debt | 331.00K | 20.00K | 43.00K | 75.00K | 69.00K |
| Total Liabilities | 1.10M | 654.00K | 627.00K | 939.00K | 1.23M |
| Stockholders Equity | 1.62M | 669.00K | 1.79M | 1.12M | 3.68M |
Cash Flow | |||||
| Free Cash Flow | -1.17M | -1.37M | -1.77M | -1.87M | -591.00K |
| Operating Cash Flow | -1.11M | -1.36M | -1.77M | -1.75M | -333.00K |
| Investing Cash Flow | -60.00K | -5.00K | 1.00K | -114.00K | -258.00K |
| Financing Cash Flow | 1.85M | 529.00K | 2.77M | 7.00K | -46.00K |
Fusion Antibodies Plc Technical Analysis
Negative
11.25
Price Trends
10.98
Positive
11.52
Negative
12.67
Negative
Market Momentum
0.16
Positive
49.09
Neutral
26.46
Neutral
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 11.25 is below the 20-day moving average (MA) of 11.33, above the 50-day MA of 10.98, and below the 200-day MA of 12.67, indicating a neutral trend. The MACD of 0.16 indicates Positive momentum. The RSI at 49.09 is Neutral, neither overbought nor oversold. The STOCH value of 26.46 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | £87.52M | 11.80 | 65.83% | 8.96% | -8.21% | -5.27% | |
53 Neutral | £115.16M | -17.92 | 90.29% | ― | ― | 69.01% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | £12.49M | -6.18 | 332.06% | ― | ― | 56.00% | |
47 Neutral | £14.08M | -11.36 | -97.87% | ― | 7.38% | 44.13% | |
47 Neutral | £337.25M | -7.89 | -1293.07% | ― | ― | ― | |
46 Neutral | £11.27M | -3.25 | -135.35% | ― | 13.42% | 65.63% |
* Healthcare Sector Average
GB:FAB
Fusion Antibodies Plc
11.25
-4.25
-27.42%
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-26.30%
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-2.56%
GB:GENF
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100.00%
GB:APTA
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0.33
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Fusion Antibodies Plc Corporate Events
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 technolog...
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 sharp...
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 d...
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 co...
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 genera...
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-des...
Business Operations and StrategyExecutive/Board Changes
Fusion Antibodies boosts management incentives with new share option grant
Positive
Jul 20, 2026
Fusion Antibodies plc has granted 2,910,000 share options to executive directors and employees under its existing employee share option scheme, with an exercise price of 10.30 pence and vesting in equal tranches over three years subject to continu...
Other
Investor Simon Peace lifts stake in Fusion Antibodies to just over 4%
Positive
Jul 1, 2026
Fusion Antibodies plc, an AIM-quoted Belfast-based CRO, provides a broad suite of antibody engineering and production services for therapeutic and diagnostic uses, leveraging proprietary platforms and extensive project experience. The company has ...
Regulatory Filings and Compliance
Fusion Antibodies updates market on total voting rights
Neutral
Jun 30, 2026
Fusion Antibodies plc, an AIM-quoted contract research organisation focused on antibody engineering and related services for global pharmaceutical and diagnostic companies, reports that its issued share capital consists of 125,156,878 ordinary sha...
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.