REG - Oncimmune Hldgs PLC - Correction to interim results

Oncimmune HoldingsAnnouncement

15/06/2023 17:30

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RNS Number : 9046C  Oncimmune Holdings PLC  15 June 2023

 

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 (mailto: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 (http://www.oncimmune.com)

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