Last checked at 18 Jul 2014 07:00
IXICO plc
Trading update
18 July 2014, IXICO plc (Ticker: IXI) ('IXICO' or the 'Company'), the brain health company, today provides a trading update for the 16 month period ending 30 September 2014.
Following the announcement of a number of contract wins and continued positive trading within the clinical trials and experimental medicine side of the business, the Company is pleased to confirm that revenues for the period are expected to comfortably meet current market expectations. In addition, grant income (recorded as other income) is expected to be materially higher than expectations. Expenditure for the period will be somewhat lower than expectations notwithstanding the recent move to new offices in the UK and the US; consequently, operating losses are anticipated to be materially lower than current market expectations. Furthermore, continued contract wins and a healthy pipeline provide the Directors with increasing confidence about the prospects for 2015 and beyond.
Professor Derek Hill, Chief Executive of IXICO commented:
'We are pleased that the digital healthcare platform that underpins all IXICO's products and services is continuing to drive our business forward with pharmaceutical companies and other customers. Finally, I continue to believe that the ongoing high profile of diseases of the brain and in particular dementia, which is a global public health priority, provides IXICO, as the brain health company, with opportunities for further growth.'
About IXICO
IXICO, the brain health company, was founded in 2004 with a mission to translate image acquisition, management and analysis technology and know-how, which the founders had developed together, into commercial products targeting the expanding area of imaging to inform decision-making during drug development. This has resulted in commercially successful products being launched in the clinical trials (Phase 0-III) and experimental medicine markets and more recently launched into the wider clinical diagnostic market. Since incorporation, IXICO has been awarded contracts by nine of the top 15 global pharmaceutical companies as well as leading biotechnology companies. In October 2013, IXICO plc was admitted to trading on AIM. More information is available on www.ixico.com
Enquiries:
IXICO plc
Derek Hill, CEO
Charles Spicer, VP Corporate Development
+44 20 7691 2064
Peel Hunt LLP (Nominated Adviser and Broker)
James Steel
Clare Terlouw
+44 20 7418 8900
Daniel Stewart & Company (Joint Broker)
Mark Treharne
David Hart
+44 207 776 6550
FTI Consulting Limited (Investor Relations)
Ben Atwell
Simon Conway
John Dineen
+44 20 3727 1000