28th Aug 2019 13:55
(Alliance News) - Collagen Solutions PLC on Wednesday expressed confidence in delivering an annual performance in line with market forecasts.
Ahead of its annual general meeting, the biomaterials and regenerative medicines manufacturer said it remained positive about its outlook and on track with key initiatives for the year.
"Our core business is seeing continued growth as expected to support our goal of further improvement on overall financial performance in line with market expectations," said Chief Executive Jamal Rushdy.
In addition, Collagen said it is progressing with infrastructure projects to increase its capacity for contract manufacturing, while the company is also expanding its tissue supply.
"We are engaged in active dialogue with our notified body regarding our application for CE marking ChondroMimetic, consistent with our plan to resolve open questions in time to gain approval in the financial year, while the response time or additional questions by the notified body still cannot be guaranteed," added Rushdy.
Looking ahead, Collagen said its research & development team is executing on several key customer product development projects, supporting a strong pipeline of contract manufacturing over the next several years.
The stock was trading 0.7% lower on Wednesday in London at 3.72 pence a share.
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