Last checked at 15 Jun 2023 17:16
15 June 2023
Oncimmune Holdings plc
("Oncimmune" or the "Company" or the "Group")
Correction to unaudited interim results for the 12 months to 31 May 2022
Oncimmune Holdings plc (AIM: ONC.L), the leading autoantibody profiling company to the pharmaceutical and biotechnology industry, today announces that a one-off error has been identified in the unaudited interim results for the 12 months to 31 May 2022, which were announced on 21 September 2022.
The financial results of one of the Company's subsidiaries were incorrectly consolidated into the overall financial results of the Group, resulting in an overstatement of £0.7 million for both revenue and cost of sales. It is important to note that this error had no effect on gross profit, or the operating loss, previously reported, nor has it had any effect on the reported cash position.
Furthermore, this one-off error has had no effect on the audited final results for the 15-month period to 31 August 2022, which were announced on 28 February 2023. The unaudited interim results for the six months ended 28 February 2023, as announced on 31 May 2023, were similarly unaffected save for the comparative data for the 12 months to May 2022 in the consolidated income statement.
The Company intends to publish corrected unaudited interim results for the 12 months to 31 May 2022 in due course.
For further information:
Oncimmune Holdings plc
Dr Adam M Hill, Chief Executive Officer
Matthew Hall, Chief Financial Officer
contact@oncimmune.co.uk
Singer Capital Markets (Nominated Adviser and Broker)
Phil Davies, Harry Gooden, George Tzimas, James Fischer
+44 (0)20 7496 3000
Zeus (Joint Broker)
Dominic King, Victoria Ayton, Dan Bate
+44 (0)20 3829 5000
+44 (0)20 3727 1000
About Oncimmune
Oncimmune is a leader in autoantibody profiling to the pharmaceutical and biotechnology industry, primarily focused on the growing fields of immuno-oncology, autoimmune disease and infectious diseases. The ImmunoINSIGHTS service business leverages Oncimmune's technology platform and methodologies across multiple diseases, to offer life-science organizations actionable insights for therapies across the development and product lifecycle. Our core immune-profiling technology is underpinned by our library of over eight thousand immunogenic proteins, one of the largest of its kind. This helps identify trial participants and patients into clinically relevant subgroups, enabling development of targeted and more effective treatments.
Oncimmune's ImmunoINSIGHTS service business is based at the Company's discovery research centre in Dortmund, Germany. The business platform enables life science organizations to optimize drug development and delivery, leading to more effectively targeted and safer treatments for patients.
For more information, visit www.oncimmune.com