London-listed aquaculture biotechnology company Benchmark said a commercial licensing agreement for non-core animal vaccines is now not expected to be completed by the end of its financial year as previously thought.
Delays in discussions with third parties led the company to announce the update. The company said it is accelerating its program of disposals and structural efficiencies and will provide an update in November.
Earlier this year, Benchmark considerably lowered its guidance for the year, citing a slowdown in the shrimp market, and CEO Malcolm Pye told IntraFish that short-sighted planning on the shrimp market had been one of the reasons for the higher expectations prior to the financial year.
