Avacta Group plc provided revenue guidance for the full year of 2016. For the period, the company announced that as the company commercializes its Affimer technology, the variety and structure of commercial agreements that may be entered into is becoming clearer. Revenue recognition of upfront and other payments received will be spread over the relevant period as defined by obligations set out in the commercial agreements.

Whilst not impacting cash flows from such agreements this will provide visibility of revenues as the Company grows. As a result of this and the timing of commercial partnerships the Company now expects revenue for the full year to be approximately £2.5 million.