Australia's Cogstate hits over 1-week low on lowering forecast

Cogstate

04/11/2022 04:20

** Shares of Cogstate Ltd  CGS.AX  fall as much as 4.1% to
A$1.745, their lowest since Oct 26
    ** Neuroscience technology company says clinical trails
revenue for 1H23 now expected to be down 10% to 12% compared to
2H22  urn:newsml:reuters.com:*:nASX3nvpy4
    ** Says clinical trials contribution margin for 1H23 will be
in the range of 48% - 51%, compared to 57% for 2H22, reflecting
lower revenue 
    ** Says healthcare revenue and segment contribution expected
to be consistent with FY22 
    ** Shares of co are down 24.8% YTD as of last close 
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))