Cambridge Cognition Holdings PLC (AIM:COG) soared almost 7% in early trade on Wednesday after announcing it has secured a £1 million contract to support a later-stage clinical trial.
Revenue from the deal is set to be recognised over the coming two years and Cambridge Cognition added there is scope for a further, larger contract with the same customer once initial results have come from the existing trial.
Cambridge Cognition will combine its CANTAB touch-screen cognitive and verbal assessments secured under its acquisition of Winterlight Labs for the first time as part of the deal.
“We're excited to be providing full clinical assessment services for a large clinical trial to a new customer,” chief executive Matthew Stork said.
Such ability to support neurodegenerative disease trials would likely not be possible had the firm not acquired Winterlight earlier this year, he added, with further contract wins likely.
Shares jumped 6.71% to 74.70p on the news.