The following is a summary of the Avacta Group PLC (AVCTF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Avacta reported a revenue growth up to £23 million, largely due to acquisitions of Launch and Coris.

• The company saw an operating loss of £28 million, slightly lower than the previous year, and a loss per share of just over 9p.

• Growth was significant in the Diagnostics provision from £4 million revenue to £21 million, reducing the group EBITDA loss to just over £1 million.

• The Therapeutics segment experienced a greater loss of £13 million in adjusted EBITDA compared to the previous year due to research costs for clinical programs.

• -Avacta anticipates continued profitability from its Diagnostics division, expecting to be EBITDA positive in H2 2024 and cash generative by 2025

Business Progress:

• Avacta's growth has been substantial due to the successful integration of Launch and Coris, fueling its continued investment in the Therapeutics segment.

• The company's financial planning looks sound with cash on hand expected to last till early 2026.

• The AVA6000 study provides promising evidence for Avacta's pre|CISION platform, showing high concentrations of anticancer drugs in tumor microenvironments.

• Significant antitumor activity was recorded in some patients and there have been improvements in safety and toxicity.

• The company plans to establish the Phase II dosage for AVA6000, begin expansion cohorts in H2 2024, and release an updated pipeline of Avacta Therapeutics' assets in late 2024.

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