hVIVO PLC (AIM:HVO) has delivered record earnings and provided a confident assessment of the year ahead as demand grows for its specialist infectious disease trials and the company expands into new areas.
Chief executive Mo Khan said 2024 had shown “further evidence of the strength of our long-term sustainable growth model,” as hVIVO reported a 12% rise in annual revenue to £62.7 million and a near 26% jump in EBITDA to £16.4 million.
The London-listed company, which specialises in human challenge trials (studies where volunteers are exposed to viruses in controlled settings), also increased its cash position to £44.2 million and will pay a 0.2p annual dividend.
Earnings per share rose by a third to 1.69p, as more trials ran across its FluCamp facilities and laboratory services.
hVIVO now expects revenue to reach £73 million in 2025, with most of that coming in the second half as recent acquisitions, including two clinical research units in Germany, are fully integrated.
Around 70% of the total is already under contract. The company reiterated its medium-term ambition of growing annual revenue to £100 million by 2028.
Post-year-end, hVIVO has also signed new deals that could significantly expand its offering.
These include a letter of intent with ILiAD Biotechnologies to run what would be the world’s first phase III challenge trial for a whooping cough vaccine, and a series of new contracts with biotech and pharmaceutical companies to test treatments for RSV and human metapneumovirus.
In addition to a growing trial pipeline, the company is investing in “off-the-shelf” challenge models, such as flu, RSV, and rhinovirus, and has launched a dedicated service to help recruit and manage trial volunteers.
Khan said the company had seen “an increasing number of global biopharma companies express interest in our world-leading services,” as regulatory agencies and vaccine developers look to human challenge trials to accelerate the development of new treatments.