hVIVO’s contract win “reflects the fruits” of its business development activities in the Asia Pacific region, said finnCap.
According to the broker, the £6.8mln contract with a leading pharmaceutical company is further evidence of the growing importance of hVIVO’s respiratory syncytial virus (RSV) challenge model in the development of RSV drugs.
With roughly 95% of full-year revenues already contracted, and the group positioned strongly to meet or beat 2023 guidance, the contract “builds further revenue visibility into 2024.”
Forecasts remain unchanged, with a target price of 35p.
Earlier today, hVIVO said it has been contracted to conduct a phase IIa human challenge study at its quarantine facilities in Whitechapel, London and will evaluate the efficacy of the antiviral against the respiratory syncytial virus (RSV) infection in healthy volunteers.
The trial is expected to start in the first half of 2024 and revenue will mostly be recognised in the same year, investors were told.