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PRM

Proteome Sciences PLC

Health Care First-pass screen £5.26m
240/1000 Overall fit
AI beneficiary 35% 25
Operating leverage 25% 20
Valuation 25% 30
Downside protection 15% 15

First-pass take

Loss-making proteomics CRO with negative gross margins and £9.5m negative equity, heavily leveraged to Chairman's discretionary funding. Services revenue growing 2.4x but insufficient to offset TMT reagent collapse (down 58%). No AI exposure.

Flags

loss-makingnegative-equitygoing-concernmicro-capcustomer-concentrationhigh-leveragecyclicalno-valuation-data