Trellus Health PLC (AIM:TRLS) shares more than doubled in Wednesday's early trade after it announced it had secured a six-month contract extension with Johnson & Johnson Health Care Systems, keeping its Trellus Elevate programme in place for patients with moderate to severely active inflammatory bowel disease who are prescribed a J&J therapy.
The AIM-traded company said the agreement, first signed in January 2025, has been extended to mid-2026 on the same economic terms, including a fixed monthly management fee. Trellus said the renewal was driven by engagement and satisfaction metrics achieved during the initial pilot phase, with J&J also expanding enrolment access channels in mid-January 2026.
Dr Marla Dubinsky, Trellus chief executive and co-founder, called it "further external validation" of the platform.
"We are establishing a scalable go-to-market model for pharma, with continued focus on disciplined execution, recurring revenue growth and expansion across immunology and inflammation. We look forward to updating the market on further developments," Dubinsky said.
Alongside the commercial update, Trellus pointed to progress in its TrialSet™ vertical, which is being deployed with ICON on a Takeda-sponsored mid-stage immunology and inflammation trial, and is being implemented with PSI across two Sanofi-sponsored late-stage trials due to begin rolling out into agreed sites from mid-Q2.
The company reiterated it expects FY2025 revenue of about $545,000 and said monthly cash burn had reduced to around $400,000 by late 2025. Trellus also referenced its £5 million convertible facility, noting proceeds from the first two tranches (£737,500 gross principal) were expected to extend its cash runway into late Q1 2026.
In London, the stock was up 105% in early exchanges, changing hands at 0.93p (and hit as high as 1p earlier).