REG - IXICO plc - Trading Update

IXICOAnnouncement

07/02/2023 07:00

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RNS Number : 0703P  IXICO plc  07 February 2023

7 February 2023

 

IXICO plc

("IXICO" or the "Company")

 

Trading update

IXICO plc (AIM: IXI), the precision analytics company delivering intelligent
insights in neuroscience, reconfirms its revenue expectations of £7 million
for the year to 30 September 2023 and announces that it now expects to achieve
double digit revenue growth in the year to 30 September 2024.

 

The Company has diversified its orderbook and the Board expects to see revenue
growth in 2024 as it continues to build upon the contract and client wins of
the last two years.  This return to revenue growth will be a key step on the
path back to profitability.

 

Giulio Cerroni, CEO of IXICO, commented: "Good progress has been made in
winning new early phase contracts, with more clients, in more therapeutic
areas over the last two years; significantly reducing client concentration in
our order book. We expect this and new client contracts from our 2023/24
opportunity pipeline, to result in the Company returning to revenue growth of
at least ten percent in 2024.  Servicing a broad portfolio of early phase
trials provides us with opportunities to progress our services with these
clients to later phases should the trial drugs show positive efficacy and
safety profiles, over the coming years."

 

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 (MAR) as amended by The Market Abuse (Amendment)
(EU Exit) Regulations 2019

 

 

For further information please contact:

 

 IXICO plc                                         +44 (0)20 3763 7499
 Giulio Cerroni, Chief Executive Officer

 Grant Nash, Chief Financial Officer

 Cenkos Securities PLC (Nominated adviser and sole broker)                         +44 (0)20 7397 8900
 Giles Balleny / Max Gould (Corporate Finance)
 Michael F Johnson / Tamar Cranford-Smith (Sales)

IXICO is dedicated to delivering insights in neuroscience to help transform
the advancement of investigational therapies for neurological diseases, such
as Huntington's, Parkinson's, Alzheimer's disease and Multiple Sclerosis. The
Company's purpose is to advance medicine and human health by turning data into
clinically meaningful information, providing valuable new insights in
neuroscience by supporting pharmaceutical companies across all phases of CNS
clinical research. IXICO's goal is to be a leading advocate of artificial
intelligence in medical image analysis.

 

IXICO has developed and deployed breakthrough machine learning AI data
analytics, at scale, through its remote access TrialTracker technology
platform, to improve the return on investment in drug development and reduce
risk and uncertainty in clinical trials for the Company's pharmaceutical
clients.

 

 

More information is available on www.IXICO.com (http://www.IXICO.com) and
follow us on Twitter @IXICOnews

 

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