REG - Physiomics PLC - Trading Update

PhysiomicsAnnouncement

03/05/2024 07:00

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RNS Number : 0890N  Physiomics PLC  03 May 2024

3 May 2024

 

Physiomics plc

("Physiomics" or the "Company")

 

Trading Update

 

Physiomics plc (AIM: PYC), a leading mathematical modelling and data science
company supporting the development of new therapeutics and personalised
medicine solutions, provides the following update on current trading.

Despite having a strong pipeline of potential new business, several large
contracts have taken longer than expected to be signed and as a result the
Company's total income for the financial year ending 30 June 2024 ("FY24") is
now expected to fall in the range of £600k-650k.

The Company is in the final stages of negotiation for two projects (one with
an existing client and one with a potential new client), the total value of
which is expected to be, in aggregate, approximately £350k.  Whilst the
Board anticipates that the contracts for these two projects will be signed in
FY24, the majority of the revenue is now expected be recognised in the
Company's next financial year ending 30 June 2025 ("FY25"), and accordingly
the Board's expectations for FY25 revenues have been correspondingly
increased.

The Board notes that the Company has, to date, secured £225k of revenue in
respect of FY25 which is expected to increase to over £0.5 million on the
signing of the two aforementioned contracts.

 

Dr Pete Sargent, CEO, commented:

"Whilst we are clearly disappointed that the execution of these two large
contracts has been delayed, we have a high level of confidence that they will
be signed before the end of this financial year.  Assuming that is achieved,
and taking account of the anticipated value of these two contracts, the
Company would then be going into its next financial year with one of its
highest ever levels of signed projects."

 

 

Enquiries:

 

Physiomics plc

Dr Peter Sargent, CEO

+44 (0)1235 841575

 

Hybridan LLP (Broker)

Claire Louise Noyce

+44 (0) 203 764 2341

 

Strand Hanson Ltd (NOMAD)

James Dance & James Bellman

+44 (0)20 7409 3494

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018 (as amended).

 

Notes to Editor

 

About Physiomics

 

Physiomics plc combines cutting edge PKPD and QSP modelling and data science
techniques, along with deep biology expertise, to help biotech and pharma
companies streamline their drug development journeys.

 

Our approach is to derive insight from all relevant data in order to de-risk
decision making and optimise design research across discovery, pre-clinical
and clinical studies.

 

Through use of bespoke models and our proprietary Virtual Tumour technology,
the Physiomics team has informed the development of over 100 commercial
projects, over 50 targets and 75 drugs. Clients include Merck KGaA, Astellas,
Bicycle Therapeutics, Numab Therapeutics & CRUK.

 

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