IXICO PLC (AIM:IXI, OTC:PHYOF) shares advance over 10% in Tuesday morning’s deals after it said revenue in the year to September 2024 will grow by at least 10%, while sales in the current year will be at least £7mln (£8.6mln).
The brain scan AI specialist added that the result reflects its therapeutic reach broadening and contract and client wins in the last two years, which it added will be a key step on the path back to profitability.
Giulio Cerroni, chief executive, commented: "Good progress has been made in winning new early phase contracts, with more clients, in more therapeutic areas over the last two years; significantly reducing client concentration in our order book.
“We expect this and new client contracts from our 2023/24 opportunity pipeline, to result in the company returning to revenue growth of at least ten percent in 2024.
“Servicing a broad portfolio of early phase trials provides us with opportunities to progress our services with these clients to later phases should the trial drugs show positive efficacy and safety profiles, over the coming years."
In London, Ixico shares were up 10.38% or 2.44p changing hands at 25.94p, giving the firm a market worth of around £12.54mln.
--updated to include share price details, first published at 7:28am.