Cambridge Cognition Holdings PLC - Cambridge, England-based digital neuroscience company - Awarded contracts worth GBP1.4 million for providing digital health and wearable devices to be used in clinical trials.
The company now has won four contracts from an unnamed global pharmaceutical company to supply the devices, plus associated software and services, in four corresponding clinical trials. The trials are designed to test the effectiveness of a drug compound on central nervous system disorders. Says the contracts are likely to generate GBP1.4 million over two years. Notes the procurement of third party hardware for the trials means the overall margin on the four contracts is lower than usual for the company.
"Pharmaceutical companies are increasingly using digital solutions in virtual or part-virtual clinical trials. Cambridge Cognition meets this evolving demand by providing a full service offering, from gold-standard assessments and specialist consultancy, through to secure data repositories and 24/7 trial support," the company stated.
Current stock price: 152.00 pence, up 8.6% on Monday morning
Year-to-date change: up sharply from 67.00p
By Scarlett Butler; scarlettbutler@alliancenews.com
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Cambridge Cog (COG)