In its interim outcomes for the six months ending December 31 2023, the enterprise reported revenues of £300,000 (H1 2023: £1m) and a pre-tax lack of £1.9m (H1 2023: £3m pre-tax loss).

In August, the group recapitalised with £3.5m in two fairness placings.

Chairman Stephen Hull stated since then the enterprise has progressed and been “rebuilding the pipeline of gross sales alternatives and reinvigorating operations by the laboratory”.

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He continued: “We’re seeing growing conversion of the deal pipeline, together with repeat enterprise being received and the potential for big offers within the drug supply area.”

And added: “Regardless of first half revenues under earlier market expectations, £0.8m of offers have been signed in December 2023 contributing to a signed offers pipeline in the present day of £1.3m, that are at numerous levels of being progressed by the laboratory to recognise as income.”