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OptiBiotix Health says it is aiming to reach profitability this year; mulling NASDAQ listing

“Given high investor and consumer interest in the microbiome in the USA and growing sales the board OptiBiotix has commissioned advisors to explore the potential of a dual NASDAQ listing," said chief executive Stephen O’Hara

OptiBiotix Health PLC -

OptiBiotix Health PLC (LON:OPTI) said it was mulling a stock market listing on NASDAQ as it provided revenue guidance for its last financial year and said it hoped to reach profitability in 2020.

It has tasked adviser goetzpartners securities to assess the potential of a dual UK-US quote.

“Given high investor and consumer interest in the microbiome in the USA and growing sales the board OptiBiotix has commissioned advisors to explore the potential of a dual NASDAQ listing," said chief executive Stephen O’Hara.

In a comprehensive update on trading, Optibiotix said total sales for the 12 months ended November 30 were £808,000. Adding in £617,000 from the disposal of a small tranche of shares it owns in sister company SkinBioTherapeutics, total income was £1.43mln, up from £541,614 a year earlier.

In 2020 the numbers should be provided a boost by the launch of its SlimBiome weight management range in healthcare chain Holland and Barrett and a roll-out in Italy of a product called Ezimega 3, which contains Opibiotix’s cholesterol-lowering additive.

“Whilst there are no guarantees these will all deliver expected sales revenues, our focus is on developing each division (Prebiotic, Probiotic, and Consumer Health) to reach profitability in 2020,” the company said.

In all, the company, which focuses on the gut’s microbiome to aid weight loss, reduce cholesterol and treat diabetes, signed 23 licensing agreements last calendar year and is expecting to maintain that sort of traction this year.

The firm, which is now in 24 countries, is looking to extend its reach into new application areas such as hypertension, immune health and gut health.

In terms of funding, as it heads towards profitability, the firm had just over £1.2mln in cash and trade debtors, or £1.4mln once R&D tax credits are recovered.

It also has a £7mln stake in SkinBioTherapeutics, which would support what it termed “capital growth”.

Quick facts: OptiBiotix Health PLC

Price: 49.5 GBX

AIM:OPTI
Market: AIM
Market Cap: £42.29 m
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