26th Jul 2022 14:43
Diaceutics PLC - Belfast-based testing laboratories company - Posts revenue of GBP7.5 million for the six months that ended on June 30, up 25% from GBP6.0 million a year earlier. Says more than 75% of revenue generated through the company's DXRX platform, up 60% from 2021. Diaceutics says half-year revenue and order book growth are in line with expectations.
DXRX is a commercialisation platform used in the field of precision medicine, a field of healthcare where treatments are tailored for smaller groups or patients, rather than a one-drug-fits-all method.
Diaceutics grew its order book to around GBP10 million at June 30, compared to GBP1.7 million at December 31. Expects 37% of the order book to be realised in the second half of 2022 and the remaining in 2023 and beyond. "The DXRX platform-enabled products and services have continued to increase revenue quality and visibility and have resulted in a meaningful future multi-year order book for the first time," the company notes.
Chief Executive Officer Peter Keeling says: "I am pleased to report a positive start to 2022, with revenue and order book growth in line with expectations. We are also seeing normal market conditions beginning to resume, and our continuing investment in our platform business model is allowing us to take advantage of the growing market opportunity and better assist our Pharma customers' shift towards precision medicine and technology enabled commercialisation."
Current stock price: 89.79 pence, up 2.6%
12-month change: down 18%
By Xindi Wei; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Diaceutics