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IXICO says performance "materially ahead of expectations"; will break even in second-half

The group has benefited from accelerated by new and expanded contracts, the deployment of a newly-developed algorithms and faster turnaround times in trial initiation

IXICO PLC -
The company’s digital platform and artificial intelligence software manages and helps interpret images from magnetic resonance imaging and positron emission tomography scanners

IXICO PLC (LON:IXI) said its performance for the current year will be “materially ahead” of market expectations with the company breaking even in the final six months.

In an update on trading, the group, whose software is able to interpret brains scans, said revenue growth in the second-half (which ends September 30) had been strong.

Specifically, IXICO has benefited from new and expanded contracts, the deployment of newly-developed algorithms and faster turnaround times in trial initiation.

“This is a fantastic achievement which reflects the Company's ability to support and grow with the increasing demand for our high quality neurological imaging and data analytics services," said chief executive Giulio Cerroni.

The company’s digital platform and artificial intelligence software manages and helps interpret images from magnetic resonance imaging and positron emission tomography scanners as well as collating and making sense of real-world data from wearable biosensors.

IXICO’s business is also moving away from a historical and predominant focus on Alzheimer’s disease to include several other neurological conditions, including Huntington’s disease and progressive supranuclear palsy, and the use of innovative technology for novel applications - wearable biosensors in psychiatric and neurological disorders.

Quick facts: IXICO PLC

Price: 70.5 GBX

AIM:IXI
Market: AIM
Market Cap: £33.07 m
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