IXICO plc - Trading update for H1 2020
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR)
("IXICO" or the "Company")
Trading update for H1 2020
33% revenue growth;
Strong closing cash balance of
· Revenues expected to be
· Strong cash balance of
· Order book* of
A strong order book and cash position together with a backlog of revenue generating projects which are being undertaken during the COVID-19 "lock down" underpin the Company's confidence that it is well-placed to manage through the unprecedented current environment and retain its growth momentum over the medium and long term.
As announced on 14 April, the Company signed a significant additional contract in Huntington's disease ('HD'), with a contract value worth
The Company's first half results will be released on
"Given the revenue growth momentum, strong balance sheet and record order book, we are in a robust position to manage the short-term headwinds of COVID-19 and to continue to pursue our key investments for the medium and longer term. Whilst COVID-19 presents uncertainty in the near term, our focus remains on ensuring our Company is well placed to support our clients through the pandemic and in the future when clinical trials reinitiate and the ramp up in demand is expected to accelerate."
* Order book is contracted but unrecognised revenue
For further information please contact:
| || |
+44 (0) 20 3763 7498
| || |
Cenkos Securities PLC (Nominated adviser and sole broker)
+44 (0) 20 7397 8900
| || |
Michael F Johnson /
| || |
+44 (0) 203 922 0891
Mary Clark /
IXICO's purpose is to advance medicine and human health by turning data into clinically meaningful information, providing valuable new insights in neuroscience.
Our goal is to be a leading proponent in the use of AI in clinical development, to improve biopharma R&D productivity through the adoption of breakthrough data analytics in precision healthcare. Through the deployment of novel AI algorithms, we analyse and interpret brain scans and digital biosensor data to enable better trial design, patient selection and ultimately clinical outcomes across all phases of clinical evaluation. Our data analytics services are deployed on some of the most important clinical trials in neuroscience, providing valuable insights to disease progression and patient safety, enabling our clients to make better informed decisions earlier in the clinical development pathway.
More information is available on www.IXICO.com
This information is provided by RNS, the news service of the
Quick facts: IXICO PLC
Market Cap: £30.02 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE