Half Yearly Report to 31 March 2017

May 22, 2017
News

22 May 2017, IXICO plc (AIM: IXI), the digital technologies company serving neuroscience, announces its unaudited interim results for the six months ended 31 March 2017.

Download Interim Report Here

Strong revenue growth

Delivering on contracts and commercial collaborations

 

Financial Highlights

Revenue increased by 31% to £2.0m (2016: £1.5m)

 Improved gross profit margin performance of 56% (2016: 49%)

• EBITDA loss reduced to £0.4m (2016: £1.0m)

• Operating loss reduced to £0.8m (2016: £1.1m)

• Loss per share reduced to 2.6p (2016: 4.6p)

• Cash balance of £2.8m (2016: £3.2m)

Commercial and Operational Highlights

Board restructuring

Giulio Cerroni appointed as Chief Executive Officer, brings extensive experience in scaling operations to build businesses and supplying sophisticated products and services to pharmaceutical and research life science markets

Derek Hill remains on the Board as President of Regulatory Science and External Relations with specific responsibility for deepening the Company's relationships with major pharmaceutical companies

Further strengthening of IXICO’s specialist digital services to pharmaceutical customers

Assessa®PML collaboration with Biogen expanded from pilot stage to planning production roll-out

New sales wins demonstrate continued expansion and success in neurological disease areas

New contract with existing top 10 pharmaceutical company reflects increasing adoption of technology platform

Innovation remains a key pillar of our long term strategy

Participation in a leading research collaboration to assess β-amyloid for the prevention of Alzheimer’s Disease as part of the EPAD consortium

Participation in a new collaborative pan-European research effort focused on addressing the challenges of successfully delivering therapies to people with Alzheimer’s Disease as part of the ROADMAP consortium


Giulio Cerroni, Chief Executive Officer of IXICO, said:

“Our operational performance in the first half of this financial year has delivered a strong increase in revenue, improved gross profit margin performance and reduced losses.  As we proceed into the second half I am excited to be executing plans that focus on accelerating our growth through optimising operational delivery and our integrated digital technologies to drive scale and  commercial success.”


Enquiries

IXICO plc    +44 20 3763 7499    

Giulio Cerroni, Chief Executive Officer    
Susan Lowther, Chief Financial Officer    

 

Shore Capital (Nominated Adviser and Broker)    +44 20 7408 4090
Bidhi Bhoma / Edward Mansfield / James Wolfe    

 

FTI Consulting Limited (Investor Relations)    +44 20 3727 1000
Simon Conway/Mo Noonan   


Notes to Editors

About IXICO

IXICO is the digital technologies company serving neuroscience.  Our mission is to transform the pursuit of improving brain health through the application of digital technologies to neuroscience. IXICO’s specialist data analytics services are used by the global pharmaceutical industry to select participants for clinical trials, assess the safety and efficacy of new drugs in development and in post marketing surveillance.  Our neurological disease focus includes Alzheimer's disease, Huntington's disease, Multiple Sclerosis, Parkinson's disease and our integrated digital platform encompasses the entire drug development lifecycle. It is a scalable and secure infrastructure for the capture and analysis of regulatory compliant clinical data to enable sponsors to make rapid, better informed decisions. IXICO is also collaborating with partners to develop new companion digital health products targeted at improving patient outcomes.

More information is available on www.IXICO.com