Microsaic PLC (LON:MSYS) has warned that coronavirus disruption will affect revenues in the current year although it still expects there to be some growth if the situation in China recovers.
The mass spectrometry equipment specialist saw revenues rise 51% to £870,000 in the year to December, though losses after tax were little changed at £2.77mln.
During the year, the AIM-listed company signed four new agreements in the small molecule and pharmaceutical sector while momentum is building for new protein detector launched at the start of the year and where the MIT is its partner.
In February, Microsaic also signed a global collaboration with Axcend Corp to market jointly their mass/liquid chromatography products.
Glenn Tracey, chief executive, said: “Microsaic now has 12 OEM and distribution agreements, four of which were signed during the year, which has extended the company’s global reach to include areas such as Southeast Asia, Korea, South Korea, and Japan.
Cash at the year-end was £2.62mln, though the company said it is considering financing options to ensure it is sufficiently capitalised to take advantage of the opportunities.