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Fusion Antibodies Plc
(LSE:FAB)
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Rating:44Neutral
Price Target:
12.00 p
▲(11.63% Upside)
Action:Reiterated
Date:12/20/25
Fusion Antibodies Plc's overall stock score is primarily impacted by its weak financial performance and concerning valuation. While there is some technical momentum, the negative P/E ratio and lack of profitability are significant risks. The absence of earnings call data and corporate events limits additional insights.
Positive Factors
Focused antibody CRO business model
Specialized CRO focus on antibody discovery and engineering creates a durable, fee-for-service revenue model tied to long-term biotech/pharma outsourcing trends. Core capabilities support repeat project work and collaborations, making revenues more predictable across development cycles.
Negative Factors
Deep losses and very negative ROE
Extremely large net losses and a deeply negative ROE reflect persistent unprofitability that can erode shareholder equity and limit reinvestment. Over months, continued heavy losses constrain strategic choices and increase reliance on external capital or dilution to sustain operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Focused antibody CRO business model
Specialized CRO focus on antibody discovery and engineering creates a durable, fee-for-service revenue model tied to long-term biotech/pharma outsourcing trends. Core capabilities support repeat project work and collaborations, making revenues more predictable across development cycles.
Read all positive factors
Fusion Antibodies Plc (FAB) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£13.14M
Dividend YieldN/A
Average Volume (3M)1.16M
Price to Earnings (P/E)―
Beta (1Y)-0.29
Revenue Growth-11.43%
EPS Growth23.40%
CountryUK
Employees24
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.01
Shares Outstanding125,156,876
10 Day Avg. Volume2,164,859
30 Day Avg. Volume1,162,225
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)8.81
Price to Sales (P/S)3.00
P/FCF Ratio-4.29
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 primarily makes money by providing fee-for-service contract R&D (CRO-style) work to external customers. Revenue is typically generated through (1) project-based service fees for antibody discovery and engineering activities—where...
Fusion Antibodies Plc Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
45
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.60M | 1.97M | 1.14M | 2.90M | 4.80M | 4.17M |
| Gross Profit | 290.00K | 430.00K | -265.00K | 202.00K | 1.72M | 1.31M |
| EBITDA | -1.36M | -1.62M | -2.06M | -2.48M | -573.00K | -532.00K |
| Net Income | -1.47M | -1.71M | -2.23M | -2.60M | -1.20M | -2.90M |
Balance Sheet | ||||||
| Total Assets | 1.81M | 1.32M | 2.42M | 2.06M | 4.92M | 5.83M |
| Cash, Cash Equivalents and Short-Term Investments | 252.00K | 359.00K | 1.20M | 195.00K | 2.05M | 2.69M |
| Total Debt | 671.00K | 20.00K | 43.00K | 75.00K | 69.00K | 230.00K |
| Total Liabilities | 1.09M | 654.00K | 627.00K | 939.00K | 1.23M | 1.08M |
| Stockholders Equity | 726.00K | 669.00K | 1.79M | 1.12M | 3.68M | 4.75M |
Cash Flow | ||||||
| Free Cash Flow | -1.26M | -1.37M | -1.77M | -1.87M | -591.00K | -1.52M |
| Operating Cash Flow | -1.19M | -1.36M | -1.77M | -1.75M | -333.00K | -1.15M |
| Investing Cash Flow | -69.00K | -5.00K | 1.00K | -114.00K | -258.00K | -365.00K |
| Financing Cash Flow | 1.07M | 529.00K | 2.77M | 7.00K | -46.00K | 2.67M |
Fusion Antibodies Plc Technical Analysis
Negative
10.75
Price Trends
11.20
Negative
12.32
Negative
13.10
Negative
Market Momentum
-0.20
Negative
45.53
Neutral
50.00
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 10.75 is above the 20-day moving average (MA) of 10.46, below the 50-day MA of 11.20, and below the 200-day MA of 13.10, indicating a neutral trend. The MACD of -0.20 indicates Negative momentum. The RSI at 45.53 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | £78.37M | 10.56 | 65.83% | 9.84% | -8.21% | -5.27% | |
53 Neutral | £115.89M | -18.11 | 90.29% | ― | ― | 69.01% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | £299.78M | -6.87 | -2929.47% | ― | ― | ― | |
44 Neutral | £13.14M | -7.29 | -210.32% | ― | -11.43% | 23.40% | |
42 Neutral | £11.04M | -6.29 | 332.06% | ― | ― | 29.79% | |
40 Underperform | £14.68M | -4.00 | -135.35% | ― | 13.42% | 65.63% |
* Healthcare Sector Average
GB:FAB
Fusion Antibodies Plc
10.50
-7.00
-40.00%
GB:AVCT
Avacta Group plc
64.00
16.00
33.33%
GB:BVXP
Bioventix
1,500.00
-633.62
-29.70%
GB:SCLP
Scancell Holdings
9.60
-0.90
-8.57%
GB:GENF
Genflow Biosciences Plc
2.14
1.52
242.40%
GB:APTA
Aptamer Group Plc
0.40
-0.28
-41.18%
Fusion Antibodies Plc Corporate Events
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...
Business Operations and StrategyRegulatory Filings and Compliance
Fusion Antibodies secures Canadian patent allowance for antibody library platform
Positive
Jun 22, 2026
Fusion Antibodies has received a notice of allowance from the Canadian Intellectual Property Office for a patent application covering an antibody library and its design method, which includes two antibody families and supports its “Opti̶...
Business Operations and StrategyProduct-Related Announcements
Fusion Antibodies Advances Grant-Funded DR5 Cancer Antibody Programme
Positive
Jun 15, 2026
Fusion Antibodies has reported significant progress on its InnovateUK Launchpad-funded DR5 antibody project, conducted in collaboration with Queen’s University Belfast to target treatment-resistant cancers. The company has successfully human...
Regulatory Filings and Compliance
Fusion Antibodies Updates Share Capital After Employee Option Exercise
Neutral
Jun 2, 2026
Fusion Antibodies plc has issued 135,000 new ordinary shares following the exercise of employee share options at an exercise price of 4.25p, with admission of the new shares to trading on AIM expected on or around 8 June 2026. Following this issua...
Business Operations and Strategy
Investor Simon Peace Builds 3.3% Stake in Fusion Antibodies
Positive
May 11, 2026
Fusion Antibodies plc, a Belfast-based CRO focused on antibody discovery, engineering and related services for therapeutic and diagnostic markets, operates on AIM and supports global pharmaceutical and biotech clients. The company leverages propri...
Business Operations and Strategy
Fusion Antibodies secures key Japanese patent to bolster antibody library platform
Positive
May 11, 2026
Fusion Antibodies plc, a Belfast-based CRO specialising in pre-clinical antibody discovery, engineering and supply for therapeutic and diagnostic uses, provides a broad suite of services from antigen expression and antibody production to proprieta...
Business Operations and StrategyFinancial Disclosures
Fusion Antibodies lifts margins, secures pharma deals and U.S. patent as pipeline broadens
Positive
May 5, 2026
Fusion Antibodies reported an improving but still mixed year to 31 March 2026, with revenues rising about 9% to £2.13m, gross margin more than doubling to 50% and cash increasing to £1.04m, supported by an IP sale and non-dilutive grants...
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.