Cambridge Cog Share News (COG)

(Sharecast News) - Cambridge Cognition has won a £1.3m contract as the cognitive assessment partner for a schizophrenia trial, it announced on Tuesday.
The AIM-traded firm said revenue from the contract was expected to be booked over the next three years.

It was the fourth schizophrenia trial Cambridge Cognition had secured with the unnamed pharmaceutical client in seven months.

The first three were announced on 1 September, in a £2m contract.

Cambridge Cognition said cognitive impairment is a core feature of schizophrenia, with deficits frequently observed in memory, attention and executive functions.

Its board said the high degree of sensitivity demonstrated by its 'CANTAB' cognitive assessments in measuring those distinct processes had led to it being named as the cognitive assessment provider for the fourth trial in the series.

"Schizophrenia affects more than 20 million people worldwide and we are pleased to be strengthening our relationship with a company that recognises the importance of sensitive and accurate cognitive assessment in developing effective therapeutics for the disorder," said chief executive officer Matthew Stork.

"This quick succession of unusually large contracts with the same pharmaceutical company is a testament to the excellent customer experience and high-quality products Cambridge Cognition delivers."

At 1212 BST, shares in Cambridge Cognition were up 6.12% at 90.2p.