25th Oct 2018 12:52
LONDON (Alliance News) - Premaitha Health PLC on Thursday told its annual general meeting that there is considerable confidence in the prenatal testing company's prospects.
Chairman Adam Reynolds said Premaitha Health made strong commercial process in the six months to the end of September with revenue growing by 45% year-on-year, with a high chance of this momentum continuing into the second half of the year.
For the first half, revenue is expected to reach GBP3.9 million from GBP2.7 million the prior year.
With the conclusion of the patent litigation, Reynolds stated that Premaitha Health now has the ability to enter new territories, some of which were previously inaccessible.
"As part of our commercial expansion strategy we aim to deliver a wider portfolio of content and I am confident that we have both the technical capability and industry reach to deliver additional products across multiple platforms as we transition towards a platform agnostic model. With the fundraising now completed, a refreshed brand identity and a strengthened management team in place, I have considerable confidence in the group's ongoing prospects," Reynolds said.
Shares in Premaitha Health were down 2.8% at 8.70 pence on Thursday.