Shares in IXICO PLC (LSE:IXI, OTC:PHYOF) rose as much as 15% on Thursday after the neuroscience analytics group said it expects full-year revenues to exceed expectations, supported by strong sales momentum and a clearer path to profitability.
The London-listed company, which provides artificial intelligence-based imaging and biomarker analysis for neurological drug development, said revenue for the year to 30 September will be at least £6.3 million, a 9% rise on the prior year and the highest since it adopted its current commercial strategy.
Growth has been driven by the “Innovate Lead Scale” strategy, combining product innovation with geographic and therapeutic expansion. IXICO said increased investment this year is expected to drive further revenue gains into 2026.
The company anticipates holding at least £3 million in cash at year-end. Chief executive Bram Goorden said the results reflected disciplined execution and growing demand for the group’s differentiated analytics platform as it works towards profitability.
Cavendish said: "We believe IXICO has built a market-leading foundation of AI-driven technologies to accelerate contract wins and partnerships to support a sustained return to revenue growth and profitability in the near to mid-term."
The broker says the stock is worth 24p, more than double the current price of 10.5p (up 0.75p on the day).