t
Novacyt S.A. announced on June 1, 2026, it has begun a consultation process with certain staff members across the Group. This process may result in a reduction of up to 40% in the Group's headcount, which totaled circa 230 as of May 26, 2026. Should the restructuring proceed, it is expected to reduce the Group's annual cash burn by up to circa £4.0m, with a cash restructuring charge of up to circa £1.0m expected.
| Date | 1 Jun 2026 |
| Time | 09:45:00 |
| Category | Corporate updates |
| ID | 4341G |
The information contained within this announcement is deemed by Novacyt S.A. to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.
Novacyt S.A.
("Novacyt", the "Company" or the "Group")
Operational Update
Paris, France, and Manchester, UK - 1 June 2026 Novacyt S.A. (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international molecular diagnostics company with a broad portfolio of integrated technologies and services, announces further proposed changes to its operating cost base.
Following the successful launch of a number of new products over the past 18 months and the recent acquisition of Southern Cross Diagnostics Pty Ltd, the Group is accelerating its plans to focus and streamline its operations and cost base.
The Company announces that it has begun a consultation process with certain members of staff across the Group which may result in a reduction of up to 40% in the Group's headcount (total headcount as at 26 May 2026 was circa 230). A further announcement will be released in respect of the outcome of the consultation process in due course.
Should the restructuring proceed, the associated labour and non-labour savings are expected to reduce the Group's annual cash burn by up to circa £4.0m, once all restructuring initiatives are complete. A cash restructuring charge of up to circa £1.0m is expected to be incurred. These numbers are conditional on the consultation process and assume the total reduction of 40%.
Contacts
|
Novacyt SA |
||||
|
Lyn Rees, Chief Executive Officer |
Via Walbrook PR |
|||
|
Steve Gibson, Chief Financial Officer |
|
|||
|
|
|
|||
|
SP Angel Corporate Finance LLP (Nominated Adviser and Broker) |
+44 (0)20 3470 0470 |
|||
|
Matthew Johnson / Charlie Bouverat (Corporate Finance) Vadim Alexandre / Rob Rees (Corporate Broking) |
|
|||
|
|
|
|||
|
Singer Capital Markets (Joint Broker) |
+44 (0) 20 7496 3000 |
|||
|
Phil Davies / James Fischer / Samed Ethemi |
|
|||
|
|
|
|||
|
Allegra Finance (French Listing Sponsor) Rémi Durgetto / Yannick Petit |
+33 (1) 42 22 10 10 |
|||
|
|
|
|||
|
Walbrook PR (Financial PR & IR) Paul McManus / Lianne Applegarth Alice Woodings |
+44 (0)20 7933 8780 or [email protected] +44 (0)7980 541 893 / +44 (0)7584 391 303 +44 (0)7407 804 654 |
|||
About Novacyt Group (www.novacyt.com)
Novacyt is an international molecular diagnostics company providing a broad portfolio of integrated technologies and services, primarily focused on the delivery of genomic medicine. The Company develops, manufactures, and commercialises a range of molecular assays and instrumentation to deliver workflows and services that enable seamless end-to-end solutions from sample to result across multiple sectors including human health, animal health and environmental.
The Company is divided into three business segments:
|
Clinical |
Broad portfolio of human clinical in vitro diagnostic products, workflows and services focused on three therapeutic areas: · Reproductive Health: NIPT, Cystic Fibrosis and other rapid aneuploidy tests · Precision Medicine: DPYD genotyping assay · Infectious Diseases: Winterplex, multiplex winter respiratory PCR panel
|
|
Instrumentation |
Portfolio of next generation size selection DNA sample preparation platforms and rapid PCR machines, including: · Ranger® Technology: automated DNA sample preparation and target enrichment technology · genesig q16 and q32 real-time quantitative PCR (qPCR) instruments
|
|
Research Use Only |
Range of services for the life sciences industry: · Design, manufacture, and supply of high-performance qPCR assays and workflows for use in human health, agriculture, veterinary and environmental, to support global health organisations and the research industry · Pharmaceutical research services: whole genome sequencing (WGS) / whole exome sequencing (WES) |
Novacyt is headquartered in Le Vésinet in France with offices in the UK (Manchester), Singapore, the US and Canada and has a commercial presence in over 65 countries, including Australia, following the recent acquisition of Southern Cross Diagnostics in March 2026, which has opened new distribution channels to the life sciences and diagnostics industries in the territory and the wider Asia-Pacific region.
The Company is listed on the London Stock Exchange's AIM market ("NCYT") and on the Paris Stock Exchange Euronext Growth ("ALNOV").
For more information, please refer to the website: www.novacyt.com