Proactiveinvestors United Kingdom IXICO PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom IXICO PLC RSS feed en Wed, 17 Jul 2019 02:10:04 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Director and PDMR share purchase ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190711070007_14144307/ Thu, 11 Jul 2019 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190711070007_14144307/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190610070005_14104021/ Mon, 10 Jun 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190610070005_14104021/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190531070005_14093294/ Fri, 31 May 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190531070005_14093294/ <![CDATA[Media files - IXICO PLC reports modest profit in latest half year as it secures additional contracts ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13438/ixico-plc-reports-modest-profit-in-latest-half-year-as-it-secures-additional-contracts-13438.html Wed, 22 May 2019 08:55:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13438/ixico-plc-reports-modest-profit-in-latest-half-year-as-it-secures-additional-contracts-13438.html <![CDATA[News - IXICO swings to profit in latest half-year ]]> https://www.proactiveinvestors.co.uk/companies/news/220749/ixico-swings-to-profit-in-latest-half-year-220749.html IXICO PLC (LON:IXI) has swung to a profit in its first half as the company began to reap the benefits of a number of contract wins.

For the six months ended 31 March, the neuroscience-focused data analytics group reported a pre-tax profit on ordinary activities of £106,000, up from a £514,000 loss in the prior year, while revenues jumped to £3.4mln from £2.8mln. Gross margins also rose by 610 basis points to 66.3%.

WATCH: IXICO PLC continuing to build scale as first half revenues rise 22%

The company also said that it had secured additional contract wins during the period with a total value of £5.2mln, taking its total order book to £21.2mln as of the end of March.

Looking ahead, IXICO’s chief executive Giulio Cerroni said the group expected to continue delivering on its financial targets into the second half, with the increased order book supporting its expectations of 20%+ revenue growth across 2019.

Cerroni added that for the next six months the company planned to “accelerate” the pace of its investments in order to scale up and support its long-term growth plans, with spending on research & development and marketing expected to increase in the second half.

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Wed, 22 May 2019 07:42:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220749/ixico-swings-to-profit-in-latest-half-year-220749.html
<![CDATA[RNS press release - Half Yearly Report to 31 March 2019 ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190522070001_14082625/ Wed, 22 May 2019 07:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190522070001_14082625/ <![CDATA[RNS press release - Notice of Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190510070006_14069048/ Fri, 10 May 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190510070006_14069048/ <![CDATA[Media files - IXICO PLC continuing to build scale as first half revenues rise 22% ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13100/ixico-plc-continuing-to-build-scale-as-first-half-revenues-rise-22-13100.html Thu, 25 Apr 2019 10:32:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13100/ixico-plc-continuing-to-build-scale-as-first-half-revenues-rise-22-13100.html <![CDATA[News - IXICO reiterates full year guidance as revenues rise over 20% in first half ]]> https://www.proactiveinvestors.co.uk/companies/news/219084/ixico-reiterates-full-year-guidance-as-revenues-rise-over-20-in-first-half-219084.html IXICO PLC (LON:IXI) has reiterated its guidance for the full year after forecasting a revenue rise of over 20% for its first half.

In a trading update ahead of its interims, the neuroscience-focused data analytics group said revenues for the six months to 31 March were expected to be £3.43mln, 22% higher than a year ago, while its cash balance at the end of the period was £7.5mln compared to £2.7mln previously.

READ: IXICO jumps as it unveils two new contracts to help tackle rare neurological diseases

The cash balance included £5.5mln from an oversubscribed share placing in May last year, while the order book stood at £21.2mln compared to £19.3mln at the start of 2019.

Based on the first half estimates, IXICO said it remained confident in its forecasts of £6.6mln in revenues for the full year, up from £5.4mln in 2018.

Giulio Cerroni, chief executive of IXICO, highlighted a £9.1mln “large Phase III Huntington's disease contract” secured in 2018, which had provided “good visibility” on future revenues and was also “an exemplar of the confidence that the biopharmaceutical industry has with IXICO”.

"Our data analytics focused strategy of deploying our proprietary AI algorithms in both current and adjacent therapeutic areas continues to drive market penetration and we are well capitalised to fund further organic growth initiatives to provide valuable new technology solutions to our clients.”

The company will release its first half results on 22 May.

In early trading on Thursday, IXICO shares were down 0.2% at 26.5p.

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Thu, 25 Apr 2019 08:44:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219084/ixico-reiterates-full-year-guidance-as-revenues-rise-over-20-in-first-half-219084.html
<![CDATA[RNS press release - Update for first half of year ending 31 March 2019 ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190425070004_14050951/ Thu, 25 Apr 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190425070004_14050951/ <![CDATA[Media files - IXICO PLC secures significant new contracts with two new clients ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13087/ixico-plc-secures-significant-new-contracts-with-two-new-clients-13087.html Wed, 24 Apr 2019 10:47:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13087/ixico-plc-secures-significant-new-contracts-with-two-new-clients-13087.html <![CDATA[News - IXICO jumps as it unveils two new contracts to help tackle rare neurological diseases ]]> https://www.proactiveinvestors.co.uk/companies/news/219009/ixico-jumps-as-it-unveils-two-new-contracts-to-help-tackle-rare-neurological-diseases-219009.html IXICO PLC (LON:IXI) shares jumped in early deals on Wednesday after it signed two contracts with new biopharmaceutical clients to help tackle rare neurological diseases.

The neuroscience-focused analytics firm said the first contract, to support an early phase study into Huntington’s Disease (HD), would be worth around £2mln and be delivered over seven years.

READ: IXICO to provide data analytics and neuroimaging services to a late-stage Huntington's programme

Huntington’s is a genetic disorder that causes the death of brain cells, resulting in impaired movement, behaviour, and cognition. There is currently no effective treatment.

The deal follows shortly behind an agreement to provide data analytics and neuroimaging services to a late-stage programme for people with HD that was signed in early March.

The second contract, a Phase 3 study for another rare neurological disease, was initially a start-up agreement to allow IXICO to deploy its services in the study, which is planning to recruit patients in June. A contract for the full programme is expected to be completed in the coming months.

IXICO said it would use its imaging analysis expertise to support the evaluation of drug safety and efficacy in both trials, with the two deals expected to contribute revenues in 2019 and into future periods.

Planning and site set-up activities for the two studies was also expected to start “imminently”.

Giulio Cerroni, chief executive of IXICO, said the two wins would build on the company’s “strong track record and growing momentum” in providing neuroimaging services to research programmes for underserved neurological diseases.

“The field of rare neurological disease research is rapidly advancing and our continued success in winning new business in this area demonstrates the confidence that our clients have in our scientific and technical expertise."

Senior VP says firm aiming to be "go to" provider for smaller biotechs

John Hall, IXICO’s Senior vice president of corporate development, told Proactive that the new client wins were part of a broader strategy to become the “go-to” provider for image analytics among smaller biotech firms.

“If you do a really good job working with the biotech’s, you can become their only preferred supplier for all of their imaging work…you become their de facto supplier for everything related to neuro-imaging”.

Hall added that the company is aiming to work more with smaller biotech firms and then potentially transfer services to larger players in the sector if their clients are bought out on the back of strong project data.

In lunchtime trading, shares were up 1.9% at 26.5p.

--Adds executive comment, interview and updates share price--

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Wed, 24 Apr 2019 08:12:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219009/ixico-jumps-as-it-unveils-two-new-contracts-to-help-tackle-rare-neurological-diseases-219009.html
<![CDATA[RNS press release - Announces two new biopharmaceutical contracts ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190424070003_14049185/ Wed, 24 Apr 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190424070003_14049185/ <![CDATA[RNS press release - Change of Adviser ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190412070006_14038616/ Fri, 12 Apr 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190412070006_14038616/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190319162002_14007984/ Tue, 19 Mar 2019 16:20:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190319162002_14007984/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190318122431_14006003/ Mon, 18 Mar 2019 12:24:31 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190318122431_14006003/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190313070006_13999839/ Wed, 13 Mar 2019 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190313070006_13999839/ <![CDATA[Media files - IXICO PLC to support late phase clinical research programme in Huntington's disease ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/12455/ixico-plc-to-support-late-phase-clinical-research-programme-in-huntington-s-disease-12455.html Tue, 05 Mar 2019 13:20:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/12455/ixico-plc-to-support-late-phase-clinical-research-programme-in-huntington-s-disease-12455.html <![CDATA[News - IXICO to provide data analytics and neuroimaging services to a late-stage Huntington's programme ]]> https://www.proactiveinvestors.co.uk/companies/news/215780/ixico-to-provide-data-analytics-and-neuroimaging-services-to-a-late-stage-huntington-s-programme-215780.html IXICO PLC (LON:IXI) said it will provide data analytics and neuroimaging services to a late-stage programme for people with the degenerative brain disorder Huntington's disease.

Its expertise will be used in what’s called an extension study to allow people living with Huntington's to continue to contribute to the search for a treatment for the condition. IXICO’s involvement will generate a further £500,000 in revenues.

WATCH: IXICO to support late phase clinical research programme in Huntington's disease

“The announcement emphasises our partner-of-choice status in neurodegenerative data analytics and our capabilities across all stages of clinical development," said chief executive Giulio Cerroni.

In a note to clients, analysts at ‘house’ broker Shore Capital commented: “The extension is further evidence of IXICO’s momentum in Huntington’s disease, having agreed four new contracts for the condition in its last financial year, including a £9.1mln agreement for a pivotal Phase III trial announced in September.”

In afternoon trading, IXICO shares eased back after hitting an early session high of 32p, losing a penny at 29.50p.

 -- Adds analyst comment, share price --

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Tue, 05 Mar 2019 07:48:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215780/ixico-to-provide-data-analytics-and-neuroimaging-services-to-a-late-stage-huntington-s-programme-215780.html
<![CDATA[RNS press release - Late phase clinical study in Huntington's disease ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190305070030_13989870/ Tue, 05 Mar 2019 07:00:30 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190305070030_13989870/ <![CDATA[News - IXICO chosen as partner for Medical Imaging & Artificial Intelligence Centre ]]> https://www.proactiveinvestors.co.uk/companies/news/215588/ixico-chosen-as-partner-for-medical-imaging--artificial-intelligence-centre-215588.html IXICO PLC (LON:IXI) has been chosen as a small-to-medium enterprise (SME) partner in the London Medical Imaging & Artificial Intelligence Centre for Value-Based Healthcare.

The data analytics company focused on delivering insights in neuroscience said the newly established centre, launched on 28 February, is part of the UK Government's Industrial Strategy Challenge Fund.

READ: IXICO gets vote of confidence from big pharma

Led by King's College London, the new Centre will develop and train sophisticated artificial intelligence algorithms from NHS medical images and patient data to provide tools for clinicians to speed up and improve diagnosis and care across a number of patient pathways including dementia, heart failure and cancer.

"We are excited to be selected to be part of this flagship UK Government initiative to ensure that UK science is at the forefront of the application and impact of artificial intelligence to the future of healthcare,” said Giulio Cerroni, the chief executive officer of IXICO.

“The development and application of artificial intelligence technology will enable IXICO to develop highly valued, innovative solutions to our biopharmaceutical clients in support of their neuroscience clinical development programmes. We are looking forward to collaborations with other leaders across this expanding field of research," he added.

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Fri, 01 Mar 2019 07:35:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215588/ixico-chosen-as-partner-for-medical-imaging--artificial-intelligence-centre-215588.html
<![CDATA[RNS press release - IXICO chosen for new Medical Imaging & AI Centre ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190301070010_13986398/ Fri, 01 Mar 2019 07:00:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190301070010_13986398/ <![CDATA[News - IXICO unveils appointment of UK Biobank finance director Grant Nash as its chief financial officer ]]> https://www.proactiveinvestors.co.uk/companies/news/214149/ixico-unveils-appointment-of-uk-biobank-finance-director-grant-nash-as-its-chief-financial-officer-214149.html IXICO PLC (LON:IXI) has announced the appointment of Grant Nash, currently finance director of the UK Biobank - a national and international health research data resource - as the company's chief financial officer.

The AIM-listed neuroscience data analytics company said Grant will join the company on 29 April 2019 and it is anticipated that he will join the board in due course.

READ: IXICO parts with director Susan Lowther

It added that Grant has been finance director of the UK Biobank since 2014, where he was also responsible for the UK Biocentre, which provides biomedical sample processing and archiving logistics to large-scale research studies.

Prior to his time with the UK Biobank, Grant spent 10 years with Evotec AG, latterly as senior vice president of finance, where he was responsible for the finance, IT, procurement facilities and logistics functions.

IXICO said Conor Woolfson, who assumed the role of interim head of finance in December 2018 after the departure of Susan Lowther, will continue to perform these duties prior to Grant's appointment, at which time he will then continue in his role of group financial controller, reporting to Grant.

Giulio Cerroni, IXICO’s chief executive said: "We are at an exciting stage of the Company's development, and Grant's business experience in international commercial and large-scale research and development organisations will assist the Board and management team in delivering against our strategic objectives."

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Thu, 07 Feb 2019 07:45:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/214149/ixico-unveils-appointment-of-uk-biobank-finance-director-grant-nash-as-its-chief-financial-officer-214149.html
<![CDATA[RNS press release - Appointment of Chief Financial Officer ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190207070006_13961099/ Thu, 07 Feb 2019 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190207070006_13961099/ <![CDATA[News - No brainer: IXICO offers enticing combination of a strong order book and a healthy pipeline ]]> https://www.proactiveinvestors.co.uk/companies/news/214099/no-brainer-ixico-offers-enticing-combination-of-a-strong-order-book-and-a-healthy-pipeline-214099.html  

What IXICO does:

IXICO PLC (LON:IXI) data analytics services are used by the global biopharmaceutical industry to interpret data from brain scans and digital biosensors to enable better trial design, site qualification, patient selection and clinical outcomes.

The company’s digital platform and Artificial Intelligence (AI) software manages and helps interpret images from MRI (magnetic resonance imaging) and PRT (positron emission tomography) scanners as well as collating and making sense of Real World data from wearable biosensors.

How is it doing:

IXICO announced several contract wins last year worth over £15mln in total, including a £9.1mln deal to provide insight from MRI data to assist in Phase III clinical trial for a drug to treat Huntington's disease.

The group also saw the scope of a current contract with a top 10 biopharmaceutical company enlarged, increasing the value by US$2.4mln, or 89% over the remaining six-year term of the agreement to US$5.1mln.

Results for the year to the end of September, published in December, saw IXICO’s revenue rise by 32% to £5.39mln from £4.10mln the year before, while gross margin improved to 58.8% from 56.4%.

The group’s full-year loss before tax narrowed to £793,000 from £1.91mln the previous year.

Net cash at the end of September totalled £7.9mln (2017: £2.4mln), reflecting an oversubscribed £5.5mln placing back in May as well as an R&D tax credit receipt of £0.4mln.

This week, IXICO announced the appointment of Grant Nash, currently finance director of the UK Biobank - a national and international health research data resource - as its chief financial officer. Grant will join the company on 29 April 2019 and the group said it is anticipated that he will join the board in due course.

The company added that Conor Woolfson, who assumed the role of interim head of finance in December 2018 after the departure of previous CFO Susan Lowther, will continue to perform those duties prior to Grant's appointment, at which time he will then continue in his role of group financial controller, reporting to Grant.

What the boss says - Giulio Cerroni:

“The combination of a strong order book and a healthy pipeline, in conjunction with senior management hires to execute our strategy, provides a solid foundation for continued growth momentum.

“With a successful capital placing to invest in new market and product development, we go into the new financial year with increased commercial traction, ambitious growth plans and a strengthened organisation focused on delivering technology-driven data analytics to our global biopharmaceutical clients." 

Blue Sky:

House broker Shore Capital said the full-year performance represented ongoing momentum from earlier reporting periods, with IXICO having now delivered more than 25% in reported revenue growth in the previous four reporting periods.

“Importantly, the revenue growth has been delivered from a strong performance across all of the business divisions, namely clinical trials services, Assessa PML, wearables projects and licensing revenue,” it added.

The broker pointed out that the contract wins in the last reporting period also highlighted the ongoing diversification of IXICO’s business as it moves away from a historical and predominant focus on Alzheimer’s disease to include several other neurological conditions, including Huntington’s disease and progressive supranuclear palsy, and the use of innovative technology for novel applications - wearable biosensors in psychiatric and neurological disorders.

At 33.50p a share currently, IXICO is valued at £15.67mln.

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Wed, 06 Feb 2019 14:20:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/214099/no-brainer-ixico-offers-enticing-combination-of-a-strong-order-book-and-a-healthy-pipeline-214099.html
<![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190118100600_13939641/ Fri, 18 Jan 2019 10:06:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20190118100600_13939641/ <![CDATA[News - IXICO parts with director Susan Lowther ]]> https://www.proactiveinvestors.co.uk/companies/news/210931/ixico-parts-with-director-susan-lowther-210931.html IXICO PLC (LON:IXI), the data science company delivering insights in neuroscience, has announced the resignation of chief financial officer Susan Lowther, who is leaving to pursue other business interests.

Until a successor is appointed, Conor Wolfson, who has been with the IXICO for over four years as Financial Controller, will assume the duties of interim Head of Finance.

WATCH: IXICO CEO Giulio Cerroni on reco rd revenues and significant contract extension

"On behalf of the board, I would like to thank Susan for her many contributions to the company,” said IXICO non-executive chairman Charles Spicer.

“She leaves IXICO in a strong financial position to continue executing on its commercially-led growth strategy. We wish her well in her future endeavours. The search for a replacement chief financial officer has been initiated."

 

 

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Tue, 11 Dec 2018 07:31:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210931/ixico-parts-with-director-susan-lowther-210931.html
<![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20181211070015_13898734/ Tue, 11 Dec 2018 07:00:15 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20181211070015_13898734/ <![CDATA[Media files - IXICO CEO Giulio Cerroni on record revenues and significant contract extension ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11420/ixico-ceo-giulio-cerroni-on-record-revenues-and-significant-contract-extension-11420.html Tue, 04 Dec 2018 09:48:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11420/ixico-ceo-giulio-cerroni-on-record-revenues-and-significant-contract-extension-11420.html <![CDATA[News - IXICO gets vote of confidence from big pharma ]]> https://www.proactiveinvestors.co.uk/companies/news/210456/ixico-gets-vote-of-confidence-from-big-pharma-210456.html IXICO PLC (LON:IXI), the data analytics company delivering insights in neuroscience, has seen the value of an existing contract almost double.

The company said the scope of a current contract with a top 10 biopharmaceutical company has been expanded, increasing the value of the contract by US$2.4mln over the remaining six-year term of the agreement to US$5.1mln.

READ IXICO trading ahead of expectations as digital tech permeates neuroscience sector

The announcement came on the same day as the publication of IXICO’s results for the year to the end of September, which showed continued strong revenue growth.

Revenue rose 32% to £5.39mln from £4.10mln the year before, while the gross margin improved to 58.8% from 56.4%.

The loss before tax narrowed to £793,000 from £1.91mln the previous year.

Operating cash outflows were reduced to around £100,000 from £1.2mln the previous year. Cash and cash equivalents at the end of the fiscal year had risen to £7.86mln from £2.41mln a year earlier.

CEO hails another year of significant progress

"2018 has been another year of significant progress in which we have delivered on our financial commitments, whilst continuing to invest in the long-term future of the company,” declared Giulio Cerroni, the chief executive officer of IXICO.

“We have reported record revenues with underlying growth of 41%, further improved gross profit performance and reduced operating losses. Consequently, operating cash outflows have been significantly reduced in the year to £0.1mln,” he noted.

“The combination of a strong order book and a healthy pipeline, in conjunction with senior management hires to execute our strategy, provides a solid foundation for continued growth momentum. With a successful capital placing to invest in new market and product development, we go into the new financial year with increased commercial traction, ambitious growth plans and a strengthened organisation focused on delivering technology-driven data analytics to our global biopharmaceutical clients," Cerroni concluded.

House broker sees acceleration along the path to profitability

House broker Shore Capital said the performance represented ongoing momentum from earlier reporting periods, with IXICO having now delivered more than 25% in reported revenue growth in the previous four reporting periods.

“Importantly, the revenue growth has been delivered from a strong performance across all of the business divisions, namely clinical trials services, Assessa PML, wearables projects and licensing revenue. We would also highlight IXICO’s performance in clinical trial services with £15m of new and expanded contracts secured in the period (including a further contract expansion announced separately today),” the broker said.

The contract wins in the reporting period also highlight the ongoing diversification of IXICO’s business as it moves away from a historical and predominant focus on Alzheimer’s disease to include several other neurological conditions, including Huntington’s disease and progressive supranuclear palsy, and the use of innovative technology for novel applications (wearable biosensors in psychiatric and neurological disorders), Shore observed.

“We remain excited by the revitalised focus on commercialisation and profitability and point to further evidence of accelerating momentum in this innovative digital health company,” the house broker concluded.

Shares in IXICO were up 4.3% at 24.5p at noon.

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Tue, 04 Dec 2018 08:13:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210456/ixico-gets-vote-of-confidence-from-big-pharma-210456.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20181204070020_13889964/ Tue, 04 Dec 2018 07:00:20 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20181204070020_13889964/ <![CDATA[RNS press release - Scope expanded with top 10 biopharma company ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20181204070009_13889903/ Tue, 04 Dec 2018 07:00:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20181204070009_13889903/ <![CDATA[Media files - IXICO Plc announces strong top-line growth with a number of lucrative contracts ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/10867/ixico-plc-announces-strong-top-line-growth-with-a-number-of-lucrative-contracts-10867.html Tue, 16 Oct 2018 13:31:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/10867/ixico-plc-announces-strong-top-line-growth-with-a-number-of-lucrative-contracts-10867.html <![CDATA[News - Spate of contract wins helps to drive top-line growth at IXICO ]]> https://www.proactiveinvestors.co.uk/companies/news/207052/spate-of-contract-wins-helps-to-drive-top-line-growth-at-ixico-207052.html A growing adoption of its medical imaging technology helped IXICO Plc’s (LON:IXI) top-line surge last year.

In a pre-close trading update, the AIM company revealed that revenues rose 32% to £5.4mln in the 12 months ended September 30 (2017: £4.1mln). Total income rose 25% to £6.0mln (2017: £4.8mln).

READ: IXICO trading ahead of expectations

During the year, IXICO announced several contracts worth over £15mln, including a recent £9.1mln deal to provide insight from magnetic resonance imaging (MRI) data to assist in phase III clinical trial for a drug to treat Huntington's disease.

“These new contracts and existing projects provide a foundation for future revenue growth,” read Monday’s statement.

Net cash at the end of September totalled £7.9mln (2017: £2.4mln), reflecting an oversubscribed £5.5mln placing back in May as well as an R&D tax credit receipt of £0.4mln.

The full set of results are scheduled to published on December 4.

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Mon, 15 Oct 2018 08:03:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/207052/spate-of-contract-wins-helps-to-drive-top-line-growth-at-ixico-207052.html
<![CDATA[RNS press release - Pre-Close Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20181015070003_13827837/ Mon, 15 Oct 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20181015070003_13827837/ <![CDATA[RNS press release - Result of General Meeting - Amended ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180921164655_13800791/ Fri, 21 Sep 2018 16:46:55 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180921164655_13800791/ <![CDATA[RNS press release - Result of General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180921110055_13800176/ Fri, 21 Sep 2018 11:00:55 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180921110055_13800176/ <![CDATA[News - IXICO secures medical imaging contract for Huntington’s disease Phase III clinical trial ]]> https://www.proactiveinvestors.co.uk/companies/news/204594/ixico-secures-medical-imaging-contract-for-huntingtons-disease-phase-iii-clinical-trial-204594.html IXICO PLC (LON:IXI) shares soared higher on Tuesday on news the firm has inked a contract with a top 10 pharmaceutical company to provide imagining services for a Pivotal Phase III clinical trial into Huntington’s disease.

The contract, which is to be delivered over four years and carries a value of £9.1mln, extends the company's relationship with an existing client and is its fourth new contract relating to Huntington’s disease in the current financial year.

READ: IXICO expands contract with biopharmaceutical company

Ixico also expanded its contract with another biopharmaceutical company last month to €1.3mln, which focused on the treatment of another neurodegenerative disease, Alzheimer’s.

Giulio Cerroni, chief executive of IXICO, said the new award, combined with the company’s other contract wins and extensions this year, provided a “strong foundation” for future growth, adding that Huntington’s was an area of “significant unmet medical need” as there are currently no effective marketed treatments.

In mid-morning trading, IXICO was the second biggest London market gainer board, with its shares up 29.1% at 35.50p.

 -- Adds share price --

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Tue, 11 Sep 2018 07:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204594/ixico-secures-medical-imaging-contract-for-huntingtons-disease-phase-iii-clinical-trial-204594.html
<![CDATA[RNS press release - Contract with top 10 global pharmaceutical company ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180911070005_13785507/ Tue, 11 Sep 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180911070005_13785507/ <![CDATA[News - IXICO to seek shareholders' permission for a capital reorganisation ]]> https://www.proactiveinvestors.co.uk/companies/news/204047/ixico-to-seek-shareholders-permission-for-a-capital-reorganisation-204047.html IXICO Plc (LON:IXI) is to seek shareholder approval for a reorganisation of the company's share capital.

The data science company that delivers insights in neuroscience, said shareholders with fewer than 100 shares account for more than three-quarters of the shareholders on the register, resulting in significant costs and a considerable administrative burden to the company.

READ: IXICO expands contract with biopharmaceutical company

The plan is for every 100 existing shares to be replaced by one new consolidated share; shareholders with fewer than 100 shares will receive the market value of those shares from the company unless the aggregate value is less than £3, in which case those shareholders will cease to be shareholders – the shares will be sold, with the proceeds donated to Alzheimer's Research UK. IXICO will match all donations to Alzheimer's Research UK.

Once the capital reorganisation has taken place, the consolidated shares will be divided into 100 shares, so the net impact will leave the nominal share value and the quoted share price unchanged while expunging shareholders who hold fewer than 100 shares from the register.

“For shareholders whose shares are held in the nominee accounts of UK stockbrokers, the effect of the capital reorganisation on their individual shareholdings will be administered by the stockbroker or nominee in whose account the relevant shares are held. The effect is expected to be the same as for shareholdings registered in beneficial names; however, it is the responsibility of the stockbroker or nominee to deal with fractions arising within their customer accounts, and not the responsibility of the company,” IXICO explained.

Shares in IXICO were unchanged in early deals.

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Mon, 03 Sep 2018 08:50:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204047/ixico-to-seek-shareholders-permission-for-a-capital-reorganisation-204047.html
<![CDATA[RNS press release - Proposed Capital Reorganisation ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180903070007_13775610/ Mon, 03 Sep 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180903070007_13775610/ <![CDATA[News - IXICO expands contract with biopharmaceutical company ]]> https://www.proactiveinvestors.co.uk/companies/news/203855/ixico-expands-contract-with-biopharmaceutical-company-203855.html IXICO PLC (LON:IXI) has expanded its contract with a biopharmaceutical company, taking the total value to €1.3mln.

The AIM-listed data science company said the change order extended the contract, which focuses on Alzheimer’s disease, from an end date of September 2020 to May 2021, as well as the addition of new clinical sites.

WATCH: IXICO full year performance expected to be 'ahead of market expectations'

The original value of the contract was €0.8mln, with the latest change order representing a 65% increase.

Giulio Cerroni, chief executive of IXICO, said: "We are delighted to announce a further extension and expansion of this project. This change order and increase in contract value, demonstrates how closely we work with our biopharmaceutical clients to expand the services we provide to their clinical development programmes."

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Thu, 30 Aug 2018 07:59:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/203855/ixico-expands-contract-with-biopharmaceutical-company-203855.html
<![CDATA[RNS press release - Contract expansion with biopharmaceutical company ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180830070003_13772181/ Thu, 30 Aug 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180830070003_13772181/ <![CDATA[Media files - IXICO full year performance expected to be 'ahead of market expectations' ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/10187/ixico-full-year-performance-expected-to-be-ahead-of-market-expectations--10187.html Tue, 21 Aug 2018 12:40:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/10187/ixico-full-year-performance-expected-to-be-ahead-of-market-expectations--10187.html <![CDATA[News - IXICO upgrades full-year expectations as revenues forecast to grow by nearly a quarter ]]> https://www.proactiveinvestors.co.uk/companies/news/203272/ixico-upgrades-full-year-expectations-as-revenues-forecast-to-grow-by-nearly-a-quarter-203272.html IXICO Plc (LON:IXI) has said its performance for the current financial year is now expected to be “ahead of market expectations” after forecasting revenue growth of nearly 25%.

The AIM-listed neuroscience data company said that reported revenue for the full year is expected to be at least £5.1mln, a 24% increase on the previous year, adding that it also expected to report a reduced operating loss for the year.

READ: IXICO signs agreement to expand scope of clinical trial study contract

The group said the revenue increase reflected previously announced contract wins, adding that it remained confident of meeting market expectations for the 2019 financial year as it “continued to invest in its commercially led growth strategy”.

IXICO recently announced that it had secured an agreement to expand the scope of an existing clinical trial study contract with a top 10 pharmaceutical company, increasing the contract’s value to £1.6mln.

Giulio Cerroni, IXICO chief executive, said the company was continuing to benefit from “increased demand for our specialist data analytics”.

The firm also said it would release a pre-close trading statement on October 16.

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Tue, 21 Aug 2018 07:26:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/203272/ixico-upgrades-full-year-expectations-as-revenues-forecast-to-grow-by-nearly-a-quarter-203272.html
<![CDATA[RNS press release - Trading Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180821070004_13762107/ Tue, 21 Aug 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180821070004_13762107/ <![CDATA[News - IXICO signs agreement to expand scope of clinical trial study contract ]]> https://www.proactiveinvestors.co.uk/companies/news/202714/ixico-signs-agreement-to-expand-scope-of-clinical-trial-study-contract-202714.html IXICO PLC (LON:IXI) has secured an agreement to expand the scope of an existing clinical trial study contract with a top 10 pharmaceutical company.

The AIM-listed data science firm, which specialises in the neuroscience field, said the additional services provided from the expansion would increase the contract's value by £600,000 to £1.6mln over its three-year term.

READ: IXICO bags a £1mln contract

The contract, originally announced on 14 May, involved IXICO providing its technology-enabled imaging services in a natural history study of people with early manifestation of Huntington's disease to observe the natural progression of the disease.

As a result of the expansion, the firm said it would provide additional analysis based on advanced imaging modalities in the study.

In lunchtime trading Monday, IXICO shares were up 1.5% at 33p.

--Adds share price--

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Mon, 13 Aug 2018 07:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/202714/ixico-signs-agreement-to-expand-scope-of-clinical-trial-study-contract-202714.html
<![CDATA[RNS press release - Agreement ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180813070004_13752219/ Mon, 13 Aug 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180813070004_13752219/ <![CDATA[RNS press release - Implementation of Long Term Incentive Plan ]]> https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180613090001_13677787/ Wed, 13 Jun 2018 09:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/12538/LSE20180613090001_13677787/ <![CDATA[News - IXICO says it remains on target despite Alzheimer's study setback ]]> https://www.proactiveinvestors.co.uk/companies/news/198666/ixico-says-it-remains-on-target-despite-alzheimer-s-study-setback-198666.html IXICO Plc (LON:IXI) said an unnamed pharmaceutical client has stopped screening a phase II/III Alzheimer's Disease trial in which its specialist imaging services were being used.

Last September the US$7.7mln contract was extended to 2024. A total of US$2mln in payments have been recognised in the last two years.  

IXICO said the client's decision to stop the study was not related in anyway to its own performance.  

On track to meet expectations

It added that it remains on track to meet market expectations for the current financial year by generating double-digit revenue growth with turnover set to exceed of US$6mln (£4.5mln).

Investors were also told IXICO has a strong order book, a broad pipeline of opportunities and "commercial momentum which will support the continued growth of the business beyond the current financial year".

Chief executive Giulio Cerroni added: "We continue to provide our analytical services for subjects already enrolled on this clinical trial. We are also working closely with our client to plan patient follow up and data analysis activities as the study is closed down. 

"Whilst it is disappointing that this project will not continue for the full contract term, our broad neurological focus, order book and pipeline mitigates such challenges that can arise in our client's clinical development programmes."

 

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Tue, 12 Jun 2018 07:29:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/198666/ixico-says-it-remains-on-target-despite-alzheimer-s-study-setback-198666.html