26th Jun 2014 09:50
LONDON (Alliance News) - Cambridge Cognition Holdings PLC said Thursday it is confident of meeting full-year expectations, after it won contracts with various pharmaceutical companies for eight human abuse liability studies, worth a total of around GBP710,000.
It will recognise over GBP535,000 of this revenue in 2014, and said that this, combined with its recent win of a phase III drug characterisation contract, underpinned its confidence for the year.
"These contract wins further reinforce our decision to focus on clinical trials that deal with Human Abuse Liability and drug characterisation and safety," said Chief Executive Nick Kerton in a statement.
Cambridge launched a new product, CTIS-Abuse Liability, at the start of June. The product helps companies conduct human abuse liability studies via an iPad tablet. Human abuse liability studies involve reviewing drugs that could be abused to determine the potential legal liability of their makers.
Shares in Cambridge Cognition were trading up 2.7% at 58.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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