Drug development accelerator Quotient Sciences has reported an £8.8 million pre-tax loss for the year ending 31 December 2024, reversing its previous year’s £12.6 million profit. Revenue declined to £71.3 million from £74.2 million in 2023.
The Ruddington-headquartered firm operates drug development, manufacturing, and clinical testing sites across the UK and US, including Reading, Edinburgh, Alnwick, Miami, and Philadelphia. The company stated that its performance reflected weaker conditions across the broader life sciences sector.
Quotient Sciences implemented cost reduction measures during the year to address market pressures. These initiatives incurred one-off costs that limited their immediate financial impact but are expected to strengthen the company’s position in 2025.
Management said the business entered the new financial year with a lower cost base and capacity to improve revenues and margins as market conditions stabilise.
