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Fusion Antibodies – warned y’all! With the shares currently slumping more than 75% today, hopefully that was heeded…

By Steve Moore | Friday 19 May 2023

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Previously writing on antibody contract research organisation Fusion Antibodies (FAB), in March with the shares down towards 30p I concluded on a “trading statement” from the company that ‘by the time the auditors have to sign off FY numbers it is not a matter of whether there is a material uncertainty but whether, at that point, Fusion is insolvent. With the market cap now heading towards £8 million, the shares are still a slam dunk sell’. Now the company “announces that it has conditionally raised c. £1.56 million (before expenses)”… and at what price?

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