IXICO 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.