Ixico wins £2mln extension to Huntington's disease study
“This decision validates our technology and endorses the service provided"
Company
LON:IXI
IXICO is no ordinary Imaging Contract Research Organisation (iCRO). By unlocking valuable insights into drug safety and efficacy, IXICO has built a highly respected global reputation and a 20-year track record as an end-to-end iCRO. IXICO addresses the complex biomarker challenges associated with neurodegenerative conditions, expertly managing and analysing neuroimaging clinical trials in areas such as Alzheimer’s, Parkinson’s, Huntington's and other rare diseases.
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“This decision validates our technology and endorses the service provided"
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FA is a rare genetic disease that causes difficulty walking, a loss of sensation in the arms and legs and impaired speech
The UK group will collect and analyse Positron Emission Tomography images generated by the Global Alzheimer's Platform Foundation’s Bio-Hermes study
The upgrading of earnings expectations further underpins the company's confidence in its ability to invest to deliver further profitable medium and long-term growth
"In this current period of high uncertainty, we believe IXICO offers the opportunity to invest in a high growth, high forward visibility, profitable business"
Chief executive Giulio Cerroni said the group's remote access business model helped mitigate potential disruption during the pandemic
Over the mid- to longer-term, a significant opportunity remains for the company, added the broker.
The brain imaging specialist said it had ended the six months to March 31, 2020, with a £15.3mln order book, however, this has risen to over £22mln in April
The company's order book currently stands at £22.5mln following a significant new deal last week
The deal for a late-phase open label study into Huntington’s disease brings the total value of new deals signed for the current financial year-to-date to £15mln
On an existing project with Vaccinex in Huntington's disease, positive imaging results obtained in an interim analysis indicated the drug's potential in additional therapeutic areas
The poster presentation will be seen at the CHDI Foundation 15th Annual 2020 Huntington's Disease Therapeutics Conference held from 24-27 February, 2020 in Palm Springs, California, USA
ADNI is a longitudinal multicentre study looking to develop clinical, imaging and biochemical biomarkers for the early detection and tracking of the chronic neurodegenerative disease
The comments were made during a Q&A session with Paul Stevens, a member of BGF’s investment team who focuses on identifying opportunities among AIM-listed companies
The firm said it has agreed around a £1.8mln extension to a Phase III study in Huntington's Disease, previously announced in September 2018
The neuroscience analytics firm swung to an EBITDA profit of £500,000 from a £600,000 loss in the prior year, while revenues rose to a record level of £7.6mln
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Britain's blue chip benchmark closed almost 30 points higher, or 0.41% at 7,188 on the day
The AI data analytics group specialises in aiding neuroscience clinical drug development
The three deals, one with an existing client and two with new firms, carry a combined initial value of around £1.2mln
A 'wide and deep' portfolio of data around neurological diseases is very valuable
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Revenue increased year-on-year by 40% to £7.6mln, up from £5.4mln in 2018, while orders at the year-end were £15.9mln
Going forward, IXICO will have two executive directors and three non-execs
The group has benefited from accelerated by new and expanded contracts, the deployment of a newly-developed algorithms and faster turnaround times in trial initiation
The company’s technology is used to interpret brain scans and is deployed by drug developers to aid with clinical trial
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Footsie closed on Thursday nearly 21 points lower at 7,509.
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The neuroscience-focused data analytics group reported a pre-tax profit on ordinary activities of £106,000, up from a £514,000 loss in the prior year
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The Footsie closed out at 7,334 - up around five points, while mid-cap index was firmly lower- down 129 points at 19,307
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Economists are expecting the consumer price index to be well below the recent growth in average earnings at around 1.8% year-on-year in April
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The neuroscience-focused data analytics group said revenues for the six months were expected to be £3.43mln, 22% higher than a year ago
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The FTSE 100 index closed 37.62 points, or 0.5% lower at 7,434.13, albeit above the session low of 7,405.99 as US stocks continued to post big falls on Thursday
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The neuroscience-focused analytics firm said the two deals were expected to contribute revenues in 2019 and into future periods
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The January US Durable Goods Orders and Shipments Report showed that business equipment investment got off to a sluggish start this year, Berenberg Capital Markets noted
Lowther’s first foray into the pharma and biotech sector was with US giant Monsanto, after which she has gone on to work for smaller industry players such as Novacyt, BioWisdom and, more recently, IXICO
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A glance at some of the day's highlights from the Proactive Investors newswire
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A glance at some of the day's highlights from the Proactive Investors newswire
“The announcement emphasises our partner-of-choice status in neurodegenerative data analytics and our capabilities across all stages of clinical development," said chief executive Giulio Cerroni
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Footsie finished up around 49 points at 7,183, while the FTSE 250 finished up nearly 32 points at 19,443
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The newly established centre brings together a consortium including London universities, NHS Trusts plus industry partners including global multinationals and UK-based SME's and the Health Innovation Network
Footsie closed the day 32 points up, or 0.45% at 7,106
The AIM-listed neuroscience data analytics company said Grant will join the company on 29 April 2019 and it is anticipated that he will join the board in due course
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The search for a new chief financial officer is underway
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IXICO's data analytics services are used by the global biopharmaceutical industry to interpret data from brain scans and digital biosensors to enable better trial design, site qualification, patient selection and clinical outcomes
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The UK index of leading shares finished down over 39 points lower at 7,022.
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The US economic outlook, the order book and restructuring will all be among the key points as Ferguson updates investors.
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Ted Baker PLC and Joules PLC will fly the fashion flag, while Berkeley Group PLC will provide the mortar on a fairly quiet corporate diary at the start of December
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The FTSE 250, a more UK company focused index, added around 328 points to 19,131
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Bellway's prelims look like they will be the main event although it is rumoured theme parks group Merlin is scheduled to issue a trading update - probably what it loses on the roundabouts it will gain on the swings.
IXICO’s revenues rose 32% to £5.4mln in the 12 months ended September 30, boosted by the signing of several lucrative contracts
Investments and investor services
Britain's blue-chip benchmark finished up around 31 points at 7,029
The week ahead includes full year results from Bellway and ASOS, interims from Gear4Music and trading updates from Barratt Developments, Segro, Unilever, Domino's Pizza and Rentokil
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The contract will involve the collection of magnetic resonance imaging (MRI) data from specialist imaging centres to support the development of a drug
The UK bluechip index fell 25 points to 7,253 around 3.50pm
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In common with some other companies, IXICO has decided it has way too many shareholders on the register with negligible shareholdings. It plans to offer them a way to offload those shares without incurring dealing costs.
The UK blue-chip index finished up over 72 points at 7,504, while the mid-cap FTSE 250 was also higher
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The AIM-listed data science company said the change order extended the contract from an end date of September 2020 to May 2021, as well as the addition of new clinical sites
In the currency markets, the pound is down 30% against the US dollar, while the pound is up 0.26% against the Euro..
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The AIM-listed neuroscience data company said that reported revenue for the full year is expected to be at least £5.1mln, a 24% increase on the previous year
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The AIM-listed data science firm said the additional services provided from the expansion would increase the contract's value by £600,000 to £1.6mln
The UK benchmark of leading shares closed down over 24 points at 7,642.
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The company is on track to meet market expectations, which means revenues are likely to grow by double digits
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A glance at some of the day's highlights from the Proactive Investors newswire
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A glance at some of the day's highlights from the Proactive Investors newswire
Some of the main news-driven risers and fallers in London on Wednesday afternoon ...
In the first half of its fiscal year, IXICO secured three new contracts which, along with the other wins last year, helped revenues to climb 30% to £2.9mln