IXICO pre-close trading update
18 July 2014, IXICO plc (Ticker: IXI) (‘IXICO’ or the ‘Company’), the brain health company, today provides a trading update for the 16 month period ending 30 September 2014.
Following the announcement of a number of contract wins and continued positive trading within the clinical trials and experimental medicine side of the business, the Company is pleased to confirm that revenues for the period are expected to comfortably meet current market expectations. In addition, grant income (recorded as other income) is expected to be materially higher than expectations. Expenditure for the period will be somewhat lower than expectations notwithstanding the recent move to new offices in the UK and the US; consequently, operating losses are anticipated to be materially lower than current market expectations. Furthermore, continued contract wins and a healthy pipeline provide the Directors with increasing confidence about the prospects for 2015 and beyond.
Professor Derek Hill, Chief Executive of IXICO commented:
‘We are pleased that the digital healthcare platform that underpins all IXICO’s products and services is continuing to drive our business forward with pharmaceutical companies and other customers. Finally, I continue to believe that the ongoing high profile of diseases of the brain and in particular dementia, which is a global public health priority, provides IXICO, as the brain health company, with opportunities for further growth.’
IXICO, the brain health company, was founded in 2004 with a mission to translate image acquisition, management and analysis technology and know-how, which the founders had developed together, into commercial products targeting the expanding area of imaging to inform decision-making during drug development. This has resulted in commercially successful products being launched in the clinical trials (Phase 0-III) and experimental medicine markets and more recently launched into the wider clinical diagnostic market. Since incorporation, IXICO has been awarded contracts by nine of the top fifteen global pharmaceutical companies as well as leading biotechnology companies. In October 2013, IXICO plc was admitted to trading on AIM. More information is available on www.ixico.com
Derek Hill, CEO
Charles Spicer, VP Corporate Development
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Peel Hunt LLP (Nominated Adviser and Broker)
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Daniel Stewart & Company (Joint Broker)
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FTI Consulting Limited Investor and Public Relations)
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