AIM:FAB

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Fusion Antibodies plc, a contract research organization, engages in the research, development, and manufacture of recombinant proteins and antibodies primarily for cancer and infectious diseases.


Snowflake Analysis

Adequate balance sheet with concerning outlook.

Share Price & News

How has Fusion Antibodies's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FAB's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

2.0%

FAB

-1.6%

GB Life Sciences

1.3%

GB Market


1 Year Return

55.7%

FAB

-7.0%

GB Life Sciences

-15.0%

GB Market

Return vs Industry: FAB exceeded the UK Life Sciences industry which returned -8% over the past year.

Return vs Market: FAB exceeded the UK Market which returned -16.2% over the past year.


Shareholder returns

FABIndustryMarket
7 Day2.0%-1.6%1.3%
30 Day2.0%-4.9%-0.3%
90 Day17.9%32.6%18.1%
1 Year55.7%55.7%-6.5%-7.0%-11.0%-15.0%
3 Yearn/a5.7%4.6%-2.2%-14.2%
5 Yearn/a29.3%27.3%18.2%-8.1%

Price Volatility Vs. Market

How volatile is Fusion Antibodies's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Fusion Antibodies undervalued compared to its fair value and its price relative to the market?

4.56x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate FAB's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate FAB's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: FAB is unprofitable, so we can't compare its PE Ratio to the Life Sciences industry average.

PE vs Market: FAB is unprofitable, so we can't compare its PE Ratio to the UK market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FAB's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: FAB is overvalued based on its PB Ratio (4.6x) compared to the GB Life Sciences industry average (3.6x).


Next Steps

Future Growth

How is Fusion Antibodies forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-9.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FAB is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: FAB is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: FAB is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: FAB's revenue (12.2% per year) is forecast to grow faster than the UK market (3.2% per year).

High Growth Revenue: FAB's revenue (12.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FAB's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Fusion Antibodies performed over the past 5 years?

-68.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FAB is currently unprofitable.

Growing Profit Margin: FAB is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: FAB is unprofitable, and losses have increased over the past 5 years at a rate of -68.4% per year.

Accelerating Growth: Unable to compare FAB's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: FAB is unprofitable, making it difficult to compare its past year earnings growth to the Life Sciences industry (8.4%).


Return on Equity

High ROE: FAB has a negative Return on Equity (-20.15%), as it is currently unprofitable.


Next Steps

Financial Health

How is Fusion Antibodies's financial position?


Financial Position Analysis

Short Term Liabilities: FAB's short term assets (£2.8M) exceed its short term liabilities (£704.0K).

Long Term Liabilities: FAB's short term assets (£2.8M) exceed its long term liabilities (£190.0K).


Debt to Equity History and Analysis

Debt Level: FAB is debt free.

Reducing Debt: FAB had no debt 5 years ago.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Insufficient data to determine if FAB has enough cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if FAB has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Fusion Antibodies's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate FAB's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FAB's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FAB's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FAB's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FAB's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

8.8yrs

Average management tenure


CEO

Paul Kerr (48yo)

8.83yrs

Tenure

UK£102,379

Compensation

Dr. Paul Gerard Kerr, Ph.D. has been Chief Executive Officer of Fusion Antibodies plc (also known as Fusion Antibodies Ltd.) since September 2011 and has been its Director since 2011. Dr. Kerr has been wit ...


CEO Compensation Analysis

Compensation vs Market: Paul's total compensation ($USD127.61K) is below average for companies of similar size in the UK market ($USD349.26K).

Compensation vs Earnings: Paul's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Paul Kerr
CEO & Director8.83yrsUK£102.38k2.13% £551.5k
James Fair
CFO, Company Secretary & Director2.92yrsUK£92.26kno data
Richard Buick
CTO & Director8.83yrsUK£116.86k1.95% £505.0k
Jim Johnston
no datano data5.18% £1.3m

8.8yrs

Average Tenure

48yo

Average Age

Experienced Management: FAB's management team is seasoned and experienced (8.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Paul Kerr
CEO & Director8.83yrsUK£102.38k2.13% £551.5k
James Fair
CFO, Company Secretary & Director2.92yrsUK£92.26kno data
Richard Buick
CTO & Director8.83yrsUK£116.86k1.95% £505.0k
Simon Douglas
Non-Executive Chairman8.83yrsUK£30.00k1.01% £260.9k
Alan Mawson
Non-Executive Director16.5yrsUK£23.00k0.51% £131.6k
Colin Walsh
Non-Executive Director13.5yrsUK£27.00kno data
Timothy Watts
Independent Non-Executive Director2.58yrsUK£27.00k0.11% £28.1k
Sonya Ferguson
Senior Independent Director2.58yrsUK£23.69k0.24% £62.1k

8.8yrs

Average Tenure

57.5yo

Average Age

Experienced Board: FAB's board of directors are considered experienced (8.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 15.1%.


Top Shareholders

Company Information

Fusion Antibodies plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Fusion Antibodies plc
  • Ticker: FAB
  • Exchange: AIM
  • Founded: 2000
  • Industry: Life Sciences Tools and Services
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: UK£25.933m
  • Shares outstanding: 25.42m
  • Website: https://www.fusionantibodies.com

Number of Employees


Location

  • Fusion Antibodies plc
  • 1 Springbank Road
  • Springbank Industrial Estate
  • Belfast
  • County Antrim
  • BT17 0QL
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FABAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPDec 2017

Biography

Fusion Antibodies plc, a contract research organization, engages in the research, development, and manufacture of recombinant proteins and antibodies primarily for cancer and infectious diseases. The company offers antibody discovery and development services; and a range of antibody engineering services for various stages of therapeutic and diagnostic antibody development. It also engages in the humanization of monoclonal antibodies. In addition, the company provides antibody sequencing services; custom expression and purification of recombinant proteins; transient protein expression; and stable cell line development services, as well as antibody analysis services. It serves pharmaceuticals, biotech, and diagnostic companies in the United Kingdom, the rest of Europe, North America, and the rest of the World. The company has a collaboration partnership with Celonic AG for the development of high yield stable cell lines. Fusion Antibodies plc was incorporated in 2000 and is headquartered in Belfast, the United Kingdom. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/02 21:11
End of Day Share Price2020/07/02 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.