IXICO links up with Microsoft to enhance AI platform

IXICO is a leading neuroimaging provider helping biopharmaceutical companies maximize the value of their drug development pipelines by transforming data into clinically meaningful insights.

Bringing together world-class therapeutic expertise, breakthrough analytics and operational excellence, IXICO is the proven partner of choice for imaging biomarker solutions in CNS clinical trials.

(, ) said revenues in the year to end 30 September 2021 will beat market forecasts even with the halting of a Huntington’s disease trial by its largest customer.

Full-year revenue will be GBP9.2mln (2020: GBP9.5mln) compared to forecasts of GBP8.7mln, which had been reduced after the Huntington trial news.

The end of that trial also wiped GBP7.1mln from the order book, which at the year-end was GBP18.8mln (GBP21.7mln).

Underlying earnings this year however will be materially ahead of market expectations of GBP1.2mln and prior year (2020: GBP1.3mln) after a strong final quarter, cost controls and several one-time boosts.

IXICO PLC (AIM:IXI, FRA:PYPB, OTC:PHYOF) said it landed a deal worth in excess of US$750,000 over two years to supply advanced neuroimaging services to an unnamed top-five global clinical research organisation (CRO) to support a phase II Alzheimer’s trial.

The study, which will be conducted at 41 sites in the US and Europe, will assess the safety and efficacy of an injected drug treating sufferers with mild and moderate symptoms.

IXICO PLC (AIM:IXI, FRA:PYPB, OTC:PHYOF), the AI-driven brain imaging specialist, said it has been awarded a new contract by an existing unnamed US biopharmaceutical client worth more than US$500,000 over 12 months.

The company will support a phase II Huntington’s disease (HD) trial, analysing MRI scans from 10 centres across the world.

IXICO PLC‘s (LON:IXI, OTCMKTS:PHYOF) latest neuroimaging contract is “a strong endorsement” of the company’s differentiated platform, said broker Shore Capital, reiterating its ‘buy’ recommendation on the shares.

The expansion into a new therapeutic area is supportive of the organic growth strategy to broaden IXICO’s footprint and deepen its expertise, the broker added.

Shore Cap also highlighted a “healthy” order book of GBP19mln and strong cash position of GBP7mln as at the end of March.

(, ) (AIM:IXI, ) IXICO PLC’s () CEO Giulio Cerroni joins Proactive London’s Katie Pilbeam to discuss the revenues in the year to end 30 September 2021 which he says will beat market forecasts even with the halting of a Huntington’s disease trial by its largest customer.

Full-year revenue will be GBP9.2mln (2020: GBP9.5mln) compared to forecasts of GBP8.7mln, which had been reduced after the Huntington trial news.

The end of that trial also wiped GBP7.1mln from the order book, which at the year-end was GBP18.8mln (GBP21.7mln).