20th Dec 2021 10:45
(Alliance News) - Shares in Proteome Sciences PLC rose sharply on Monday after it said it has won a new contract in excess of GBP1 million from an unnamed "major pharmaceutical company".
Shares were up 6.1% to 5.20 pence in London. The shares are up 34% so far this year.
Under the terms of the contract, Proteome will analyse large cohorts of clinical samples from a phase 3 clinical trial. Work is expected to start early in the first quarter of 2022
The drug development services provider said the majority of revenue is expected to be generated in 2022.
Chief Commercial Officer Richard Dennis commented: "We are delighted that Proteome Sciences has been selected as the biomarker CRO of choice for these ongoing clinical studies. The contract will take up a significant part of the expanded capacity that we have added to our services activities in 2022 and into 2023."
By Will Paige; [email protected]
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