Pre-Close Trading Update

RNS Number : 6061C

IXICO plc

19 October 2015

 



IXICO plc

Pre-Close Trading Update

19 October 2015, IXICO plc (Ticker: IXI) ('IXICO' or the 'Company'), the brain health company, today provides the following pre-close trading update ahead of its preliminary results for the year ended 30 September 2015.

The Company is pleased to report revenues for the year at £3.1 million and other income at £1.0 million, in line with market expectations, giving combined total income of £4.1 million for the year.  This compares to £4.3 million of total income (£3.4 million of revenue and £0.9 million of other income) for the 16 month period to 30 September 2014.  Revenues in the year were achieved in the clinical trials business, including new contracts in Huntington's Disease, together with initial revenues from the Company's proprietary digital healthcare platform.

Operating expenses have been tightly controlled which has contributed towards a net cash figure at 30 September 2015 of £1.92 million which is ahead of market expectations and reflects a modest reduction from  the net cash figure of £1.95 million at 31 March 2015.

Post the year end, the Company was pleased to announce a strategic collaboration with a leading pharmaceutical company to develop and pilot an adapted version of Assessa® for the clinical management of multiple sclerosis.  This collaboration is expected to make a material contribution to the Company's revenues in the next 12-18 months which, together with the Phase II global clinical study in neurodegenerative disease announced in August 2015, underpins the board's confidence in meeting current market expectations.

The Company anticipates that its preliminary results to 30 September 2015 will be announced in December 2015.

Enquiries:

IXICO plc	[phone]
Derek Hill, CEO
Susan Lowther, CFO
Charles Spicer, VP Corporate Development
Peel Hunt LLP (Nominated Adviser and Broker)	[phone]
James Steel
Oliver Jackson
Daniel Stewart & Company (Joint Broker)	[phone]
Martin Lampshire
David Coffman
FTI Consulting Limited (Investor Relations)	[phone]
Simon Conway
Mo Noonan
Matthew Moss

Notes to Editors

About IXICO

IXICO, the brain health company, uses its innovative and proprietary digital platform technologies to help those involved in researching and treating serious diseases to make rapid, informed decisions targeted at improving patient outcomes.  IXICO has significant experience working with global pharmaceutical and biotechnology companies supporting clinical studies in the field of neuro-degenerative disorders including dementia, Alzheimer's disease, Huntington's disease and Multiple Sclerosis.  

More information is available on www.ixico.com

 

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