Bioventix share price spikes after trading update

Clinical antibody specialist Bioventix expects revenues and pre-tax profits to be ahead of market projections for the year after its revenue increased by almost a quarter.

Bioventix, which specialises in the development and commercial supply of high-affinity monoclonal antibodies for clinical diagnostics, said revenue would top £7m for the year, up 24% from the £5.5m the previous year.

Profits would also be boosted thanks to a "similar shallow trajectory" for its cost base that the group had reported in previous years.

The firm said its full audited accounts would be released on 17 October, ahead of its annual general meeting on 14 December.

As of 0910 BST, shares had gained 11.39% to 2,445.00p.