- biopharmaceutical company Avacta reported wider losses in the first half of the year as a rise in research costs offset revenue growth.

For the period ended 30th June 2021, pre-tax losses widened to £11.4 million from £8.2 million year-on-year, while revenue increased to £2.3 million from £1.8 million.

Research costs rose to £6.3 million from £3.6 million.

'In the next 12 months we expect to see further strong progress in both divisions and anticipate several significant value inflection points to be achieved,' the company said.

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