IXICO plc Pre-Close Trading Update (9390D)
October 15 2018 - 1:00AM
UK Regulatory
TIDMIXI
RNS Number : 9390D
IXICO plc
15 October 2018
15 October 2018
IXICO plc
("IXICO" or the "Company")
Pre-Close Trading Update for year ended 30 September 2018
Revenue increased by 32% to GBP5.4m
Strong closing cash balance of GBP7.9m
IXICO plc (AIM: IXI), the data science company delivering
insights in neuroscience, today provides the following pre-close
trading update ahead of its preliminary results for the year ended
30 September 2018.
The Company is pleased to announce that revenue increased by
GBP1.3 million or 32% to GBP5.4 million (2017: GBP4.1 million).
Excluding the impact of foreign exchange, the underlying revenue of
GBP5.1 million (2017: GBP3.8 million) increased by 34%. This
revenue growth included an expansion of medical imaging services
provided to global pharmaceutical clients in new and existing
projects, together with preliminary revenue from wearable biosensor
projects.
During the year the Company announced several new multi-year
contracts which are worth a combined total of over GBP15.0 million,
including a Phase III contract signed at the end of the financial
year. These new contracts and existing projects, provide a
foundation for future revenue growth.
Total income increased by 25% to GBP6.0 million (2017: GBP4.8
million) as Other income of GBP0.6 million (2017: GBP0.6 million)
was in line with the prior year.
Net cash at 30 September 2018 was GBP7.9 million (2017: GBP2.4
million) and reflected an over-subscribed placing of GBP5.5 million
in May 2018, which will be used to accelerate the Company's
commercially led growth strategy. Second half cash inflows also
included R&D tax credit receipt of GBP0.4 million and
reimbursement of grant costs.
The Company anticipates that its preliminary results to 30
September 2018 will be announced on 4 December 2018.
For further information please contact:
IXICO plc
Giulio Cerroni, Chief Executive Officer Tel: +44 20 3763 7499
Susan Lowther, Chief Financial Officer
Shore Capital (Nomad and Broker) Tel: +44 20 7408 4090
Edward Mansfield/Anita Ghanekar/Daniel Bush
FTI Consulting Limited (Investor Relations) Tel: +44 20 3727 1000
Simon Conway/Mo Noonan
About IXICO
IXICO is dedicated to delivering insights in neuroscience. Our
mission is to transform the progression of our clients'
neurodegenerative therapeutic pipeline through the application of
novel medical imaging and mobile health digital technologies.
IXICO's specialist data analytics services are used by the
global pharmaceutical industry to interpret brain scan data and
digital biomarkers to enable better trial design, site
qualification, patient selection and clinical outcomes. We provide
technology-enabled services across all phases of clinical trial
process evaluation. Our integrated digital platform provides a
scalable and secure infrastructure for the capture and analysis of
regulatory compliant clinical data to enable clients to make rapid,
better informed decisions. IXICO is also collaborating with
partners to develop new analytical techniques and companion digital
health products targeted at improving patient outcomes.
More information is available on www.IXICO.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTFFMFDEFASELS
(END) Dow Jones Newswires
October 15, 2018 02:00 ET (06:00 GMT)
Ixico (LSE:IXI)
Historical Stock Chart
From Apr 2024 to May 2024
Ixico (LSE:IXI)
Historical Stock Chart
From May 2023 to May 2024