12th Jan 2015 09:06
LONDON (Alliance News) - Instem PLC said Monday that it expects to meet market expectations for 2014, as it saw a "very encouraging" final quarter, and that strong order intake has led to a greater opening backlog position for 2015 than it has had "in any previous year".
The software and services company said that the US Food and Drug Administration announced definitive guidance last month, mandating the dates when new drug admissions must adhere to its electronic submission standard for the exchange of non-clinical data, known as SEND. Instem expects this to lead to a further increase in demand for its Centrus-submit product.
"Instem experienced strong demand for its offerings during the fourth quarter of the year and, in addition, its Centrus-submit solution should now attract increasing opportunities as the deadlines for SEND compliance approach," said Chief Executive Officer Phil Reason in a statement. "We have opened 2015 with our largest ever opening backlog and this, combined with our high contract renewal rate, gives us confidence for the coming year."
Shares in Instem are trading up 8.2% at 145.00 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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