30th Sep 2015 09:15
LONDON (Alliance News) - Proteome Sciences PLC Wednesday said it is on track for strong revenue growth in its second half and into 2016, as it reported a narrowed pretax loss for the first half of 2015.
For the half year to end-June, the company reported a pretax loss of GBP1.7 million, narrowed from a pretax loss of GBP2.1 million a year before, as revenue rose to GBP850,150 from GBP784,276, and administrative expenses were trimmed to GBP2.1 million from GBP2.5 million.
The company said increased focus on personalised medicine is driving both the numbers and the value of the biomarker services contracts it is signing, and it expects this trend to continue and strengthen its growing pipeline of contracts into 2016. Revenue from its biomarker services for 2015 are expected to close to double 2014 levels, it said.
"We expect the launch of a first test for stroke based on our biomarkers by our licensee Randox later in the year which will trigger further milestone payments and raise the profile and value of our biomarker IP," said Executive Chairman Christopher Pearce in a statement.
Shares in Proteome Sciences were up 8.4% at 16.94 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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