IXICO says it is on track to meet market expectations as it gives an upbeat assessment of prospects

The company’s technology is used to interpret brain scans and is deployed by drug developers to aid with clinical trial

IXICO has landed two new client contracts with a combined value of over £1mln

IXICO PLC (LON:IXI) has confirmed it is on track to hit market expectations and said it is optimistic on the outlook for 2020.

A trading update revealed IXICO has landed two new client contracts with a combined value of over £1mln.

There has also been a significant change order that expands its involvement in a phase III clinical trial for Huntington's disease worth an additional £900,000.

However, another client has stopped a trial after an interim data review. The total financial impact will be £3.5mln over full term of the agreement, which runs to 2025, IXICO said.

“Client change notifications are an industry norm, reflecting the key decisions made by our clients in the course of their clinical research studies as they learn more about the safety and efficacy of their drug assets,” said Giulio Cerroni, chief executive.

“The board is confident of meeting market expectations in 2019 and, underpinned by the company's strong order book, is optimistic about the prospects of the company."

Quick facts: IXICO PLC

Price: £0.57

Market: AIM
Market Cap: £26.66 m

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