Physiomics PLC (AIM:PYC) shares jumped 19% in early trading on Wednesday after it won a new contract with Cancer Research UK.
Its share price rose to 5.5p following its confirmation it would continue modelling work for Cancer Research sponsored trials, having sat at 4.6p at the market close on Tuesday.
The pharmaceuticals consultancy, which uses models to support drug development and personalised treatments, first began work with Cancer Research in 2019 when it aided its sponsored clinical trial on solid tumours.
Under the new contract, it will support the charity’s sponsored work by modelling the bodily effects of drugs used for the treatment of blood cancer developed by Aleta Biotherapeutics.
“We are very pleased to be working on this second project with Cancer Research UK, the UK's leading cancer research charity and look forward to developing our relationship further going forwards," said chief executive Jim Millen.
Physiomics' share price has risen 63.3% so far this year, but fell back to 4.6p later on Wednesday.