Collagen Solutions PLC Trading update and notice of results (6453U)
October 26 2017 - 1:00AM
UK Regulatory
TIDMCOS
RNS Number : 6453U
Collagen Solutions PLC
26 October 2017
Collagen Solutions Plc
(the "Company" or the "Group")
Trading Update and Notice of Results
Collagen Solutions plc (AIM: COS), the developer and
manufacturer of medical grade collagen-based biomaterials for use
in research, diagnostics, medical devices, and regenerative
medicine, provides an update on trading for the six months to 30
September 2017.
Revenue and other income is expected to be GBP1.86m, (H1 2016:
GBP1.89m). Whilst the quality and scale of our sales pipeline are
both at their highest levels to date, our first half revenues have
been impacted by revenue recognition issues (GBP150k) and
anticipated orders which, for various reasons, have either not
materialised or have been delayed by our customers' own internal
issues (2016 equivalent GBP341k). Those revenues affected by
revenue recognition will flow through positively during the
second-half of the financial year. As already highlighted in our
August AGM statement, revenue growth this year is expected to occur
in the second-half of the financial year and the Directors believe
that the strength and quality of our sales pipeline continues to
have the potential to deliver in line with these expectations.
Commenting on outlook, Jamal Rushdy, CEO says: "We remain
positive on the long-term prospects of Collagen Solutions and
current pipeline of opportunities and new products. During the
first half of the financial year, we added eight new early-stage
customer deals compared with nine in the entirety of last year.
Additionally, a key milestone was met in September when we
completed patient assessments in our ongoing eight-year extension
clinical study of ChondroMimetic osteochondral scaffold. The
resulting data is due to be reported in Q1 2018, followed by a CE
mark submission later in 2018, whilst now engaging in partnering
discussions. We look forward to providing more detail of progress
within the business when we report our Interim results."
The Company will announce its interim results for the six months
to 30 September 2017 on Tuesday, 5 December 2017.
About Collagen Solutions:
Collagen Solutions Plc is a global provider of medical grade
collagen formulations and components for use in regenerative
medicine, medical devices and in-vitro diagnostics and research.
The capabilities of the Company include the provision of native,
soluble and powdered collagen formulations, processed and
semi-processed tissues such as pericardium, bone, and blood
vessels, and expertise in the development and contract manufacture
of collagen components for use as engineered tissue scaffolds and
other medical devices. These products are used in a wide variety of
applications including orthopaedics, cardiovascular, dental,
plastic surgery, wound healing, neurology and urology. Collagen
Solutions' unique offering extends beyond material supply and
contract services through the highly skilled staff who support
customers through the various stages of development and regulatory
approval. For additional information, please visit
www.collagensolutions.com.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Enquiries:
Collagen Solutions Plc Contact via Walbrook
Jamal Rushdy, Chief Executive
Officer
Gill Black, Chief Financial
Officer
Cenkos Securities plc (Nominated Tel: 0207 397 8900
Adviser and Broker)
Stephen Keys
Steve Cox
Walbrook PR Tel: 020 7933 8780 or collagen@walbrookpr.com
Mike Wort Mob: 07900 608 002
Anna Dunphy Mob: 07876 741 001
This information is provided by RNS
The company news service from the London Stock Exchange
END
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