Avacta pushes back annual results due to auditor delays

(Sharecast News) - Life sciences company Avacta Therapeutics has announced that it has had to delay the release of its annual results by a week. The company, which develops next generation peptide drug conjugates, was originally due to report its results for 2024 on 29 May, but said that auditors have been unable to finalise the audit work connected to this year's disposal of Launch Diagnostics to Palex Healthcare.

Avacta was only notified of this delay last week, and so results are now expected to be released on 4 June.

However, the company reassured investors by saying that the delay is not a result of any adverse financial developments.

"There is no impact to Avacta's financial position and cash runway," Avacta said on Tuesday.

Shares were up 3% at 28.33p by 0916 BST.