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The latest update is out from Proteome Sciences ( (GB:PRM) ).
Proteome Sciences has raised £840,000 through a placing and subscription of 48 million new shares at 1.75p, representing about 14% of its enlarged share capital, and plans an additional retail offer of up to £60,000 at the same price via the BookBuild platform. The funds will be used to scale its proteomics capabilities, including increasing TMT plexing capacity to 96-plex, launching new DXT isotopic tags, introducing solvent shift chemoproteomic workflows, concluding a DXT licence, expanding staff and mass spectrometry capacity in San Diego, and providing working capital, following recent substantial GCLP contract wins and biopharma deals in Europe and the US. Major shareholder Vulpes Life Science Fund and Chief Commercial Officer Richard Dennis participated in the raise, constituting related party transactions deemed fair and reasonable by independent directors, while Executive Chairman Christopher Pearce has agreed to raise the conversion price on his £5 million loan facility from 1p to a minimum of 4p per share, reducing potential dilution risk as the new shares are admitted to trading in London.
The most recent analyst rating on (GB:PRM) stock is a Buy with a £3.50 price target. To see the full list of analyst forecasts on Proteome Sciences stock, see the GB:PRM Stock Forecast page.
Spark’s Take on GB:PRM Stock
According to Spark, TipRanks’ AI Analyst, GB:PRM is a Neutral.
The score is primarily held down by very weak financial fundamentals (negative profitability, negative equity, and negative operating/free cash flow). Technicals are supportive with price above key moving averages and positive MACD, but the elevated RSI signals overbought risk. Valuation is constrained by a negative P/E and no dividend yield data.
To see Spark’s full report on GB:PRM stock, click here.
More about Proteome Sciences
Proteome Sciences plc is a UK-based life sciences company listed on AIM that provides proteomics services and technologies, including Tandem Mass Tag (TMT) and DXT isotopic tagging and chemoproteomic workflows, to biopharmaceutical clients in Europe and the United States. The company is expanding its operational footprint, particularly in San Diego, to capture growing demand in the fast-expanding global proteomics market projected to grow strongly to 2030.
Average Trading Volume: 256,067
Technical Sentiment Signal: Buy
Current Market Cap: £9.53M
For a thorough assessment of PRM stock, go to TipRanks’ Stock Analysis page.