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On 8 December 2022, IXICO plc announced that a client notified the company of its decision to discontinue a previously announced phase two trial. This action is expected to result in a £0.1 million reduction in management's anticipated 2023 revenues and a £0.6 million reduction in the company's orderbook. IXICO plc also stated that market guidance will not be impacted.
| Date | 8 Dec 2022 |
| Time | 15:34:57 |
| Category | Corporate updates |
| ID | 1206J |
8 December 2022
IXICO plc
("IXICO" or the "Company")
Contract update
IXICO plc (AIM: IXI), the precision analytics company delivering intelligent insights in neuroscience, announces that it has been notified by a client that the client has decided to discontinue a phase two trial that was previously announced by the Company. While this is expected to result in a reduction in management's previously anticipated revenues for 2023 of £0.1m and a total reduction in the Company's orderbook of £0.6 million, market guidance will not be impacted.
For further information please contact:
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IXICO plc |
+44 (0)20 3763 7499 |
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Giulio Cerroni, Chief Executive Officer Grant Nash, Chief Financial Officer |
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Cenkos Securities PLC (Nominated adviser and sole broker) |
+44 (0)20 7397 8900 |
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Giles Balleny / Max Gould (Corporate Finance) |
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Michael F Johnson / Tamar Cranford-Smith (Sales) |
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This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR) as it forms part of domestic law in the United Kingdom by virtue of the EU (Withdrawal) Act 2018.
About IXICO
IXICO is dedicated to delivering insights in neuroscience to help transform the advancement of investigational therapies for neurological diseases, such as Huntington's, Parkinson's, Alzheimer's disease and Multiple Sclerosis. The Company's purpose is to advance medicine and human health by turning data into clinically meaningful information, providing valuable new insights in neuroscience by supporting pharmaceutical companies across all phases of CNS clinical research. IXICO's goal is to be a leading advocate of artificial intelligence in medical image analysis.
IXICO has developed and deployed breakthrough machine learning AI data analytics, at scale, through its remote access TrialTracker technology platform, to improve the return on investment in drug development and reduce risk and uncertainty in clinical trials for the Company's pharmaceutical clients.
More information is available on www.IXICO.com and follow us on Twitter @IXICOnews