Avacta Group (AVCT) H1 2026 earnings summary

Executive summary

• Achieved clinical validation for the pre|CISION® platform, with AVA6103 showing proof of mechanism and favorable safety in Phase 1a trials for solid tumors, outperforming marketed ADCs in preclinical studies.

• Advanced AVA6207 dual payload program and AVA6000 (faridoxorubicin), with updated efficacy and pharmacology data presented at major oncology conferences.

• Strengthened leadership with new Board appointments and raised approximately £19 million through equity placements and subscriptions to support R&D and operational runway.

Financial highlights

• Revenue from continuing operations was £0.06 million for H1 2026, unchanged from H1 2025.

• Operating loss from continuing operations decreased to £13.91 million (H1 2025: £14.18 million).

• Loss after tax from continuing operations was £19.02 million (H1 2025: £16.13 million).

• Cash and cash equivalents at 30 June 2026 were £20.27 million (31 December 2025: £16.86 million), with £10.59 million as of 31 August 2026.

• Net assets at 30 June 2026 were £3.77 million (30 June 2025: £0.14 million).

Outlook and guidance

• First efficacy data from the FOCUS-01 trial with AVA6103 expected in H1 2027.

• Dual payload program (AVA6207) payload selection and clinical candidate data to be presented in Q4 2026.

• Updated AVA6000 clinical data to be presented at ESMO Congress in October 2026.

• Current cash runway extends into early Q1 2027, with additional capital raise planned.