Last checked at 8 Jul 2021 07:00
8 July 2021
Diaceutics PLC
("Diaceutics" or the "Group" or the "Company")
Trading update for the six months ended 30 June 2021
Diaceutics PLC (AIM: DXRX), the diagnostic commercialisation company, announces a trading update for the six months ended 30 June 2021 (the "Period").
The Group has delivered a strong start to the 2021 financial year, in line with management's expectations, against the backdrop of the continuing global COVID-19 pandemic, reflecting the growing momentum in the business following the launch of the DXRX platform on 28 October 2020.
The Group expects to report revenue growth of approximately 13% to £6.0 million 1 (H1 2020: £5.3 million), being 24% on a constant currency basis. The Group continues to invest in the development of the DXRX platform and closed the Period with net cash of £23.7 million 1 (H1 2020: £29.8 million), in line with the Board's expectations.
At the start of the year, the Board set a target for 20% of full year revenue to be generated via the DXRX platform. The Group delivered revenue from 25 projects via the platform, representing over 30% of revenue in the Period.
Peter Keeling, CEO and Founder of Diaceutics commented:
"I am pleased to report a positive trading performance in the first half of the year, demonstrating the growing momentum in the business following the successful launch of the DXRX platform last year. We are seeing clear evidence of its value to stakeholders within the Pharma industry and to Diaceutics, providing us with the ability to scale our offering in line with the increased growth in the precision medicine industry. We remain confident that we are on the path towards becoming a strategically embedded platform provider to the Pharma industry."
Notice of Results
The Group's interim results for the six months ending 30 June 2021 are expected to be announced on 14 September 2021.
1 Revenue and Net Cash figures are unaudited
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014. The person responsible for release of this announcement on behalf of the Company is Philip White (Chief Financial Officer).
Enquiries:
Diaceutics PLC |
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Philip White, Chief Financial Officer | Via Alma PR |
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Stifel Nicolaus Europe Limited (Nomad & Broker) | Tel: +44 (0)20 7710 7600 |
Ben Maddison |
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Stewart Wallace |
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Nick Adams |
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Alma PR | Tel: +44(0)20 3405 0205 |
Caroline Forde | diaceutics@almapr.co.uk |
Robyn Fisher |
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Kieran Breheny |
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About Diaceutics
At Diaceutics we believe that every patient should have access to the right treatment at the right time. We provide the world's leading pharmaceutical companies with an end-to-end solution for the launch of precision medicine diagnostics enabled by DXRX - The Diagnostic Network®.
DXRX is the world's first diagnostic commercialisation platform for precision medicine, integrating multiple pipelines of real-world diagnostic testing data from a global network of laboratories.