Physiomics reports strong operational progress

(Sharecast News) - Physiomics said on Friday that it was making strong operational progress and building the largest commercial pipeline in its history.

The AIM-traded mathematical modelling, data science and biostatistics company said engagement remained encouraging across existing and prospective clients, while a review of its IT infrastructure and operational systems had confirmed that the business was well placed to support larger and more complex client projects.

Physiomics said one-off costs had been incurred ahead of April's general meeting, at which the former directors were removed, but added that identified cost savings would exceed those expenses, mainly in the next financial year.

Director Ian Bagnall said the board had identified "a robust financial strategy" to support a path towards breakeven, adding that recent changes were helping establish "a more sustainable and financially resilient business".

At 1151 BST, shares in Physiomics were down 2.32% at 0.46p.

Reporting by Josh White for Sharecast.com.

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