Open Orphan (ORPH) are a CRO, a Clinical Research Organisation and a world leader in testing vaccines and antivirals using human challenge studies. ORPH is addressing the growing infectious and respiratory disease market and is listed on AIM.
During the live presentation and Q&A at London South's East's live event, new CEO Yamin 'Mo' Khan made it clear that the core business is performing well. 'Open Orphan is EBITDA profitable for 2021, with £40 million of revenues confirmed, more than double the equivalent period two years ago. For 2022 the business is targeting revenues of 50M for non-Covid work, 25% year on year growth, with Covid work in addition to this.'
This is underpinned by news of new facilities which will double the company's volunteer screening capacity, 'and a 50% increase in bed capacity in recent months from 43 up to 62 quarantine-related beds' said Cathal. Mo added, 'We conducted over 84,000 volunteer screenings last year and we will beat that this year.' He also told us 'the weighted pipeline going forwards is £75M, the biggest it has ever been as we position for growth'.
Cathal confirmed they have over 16M in cash but that handing it back in a share buy-back 'is the lazy option'. 'We have good things we can do with it which will surprise and delight people', he said.
As for Disease in Motion and contracts all Cathal could say was: "This is work in progress".
