20th Nov 2015 07:45
LONDON (Alliance News) - Cambridge Cognition Holdings PLC said Friday it expects a similar outturn for 2015 compared to 2014, as it made "significant progress", expecting to end the year with three new major pharmaceutical clinical trial contracts totalling USD4.5 million.
These contracts will include upfront payments and revenues to be recognised through to 2017.
Cambridge Cognition develops and markets computerise tests to detect and monitor neuropsychological disorders such as Alzheimer's.
In 2014, the company reported a pretax loss of GBP295,000 on revenue of GBP5.8 million.
Cambridge Cognition said that the new contracts mean that, despite bolstering investment in both its healthcare technology development and commercial infrastructure in the US, it will report results similar to last year, and have a "strong" contracted revenue base for 2016.
"We are pleased to have made significant progress in our pharmaceutical clinical trials business and these contracts provide a strong foundation for continued growth in 2016," said Chief Operating Officer Steven Powell in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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