Physiomics PLC Trading Update (2573A)
23 Mai 2023 - 8:00AM
UK Regulatory
TIDMPYC
RNS Number : 2573A
Physiomics PLC
23 May 2023
23 May 2023
Physiomics plc
("Physiomics" or "the Company")
Trading update
Physiomics plc (AIM: PYC), the oncology consultancy using
mathematical models to support the development of cancer treatment
regimens and personalised medicine solutions, would like to update
the market on current trading.
Due to unforeseen delays in data delivery to Physiomics for
contracted projects and the signing of a project with a potential
new client, the Company's total income for the financial year
ending 30 June 2023 is likely to be more than 10% lower than the
GBP750k stated in its previous guidance announced on 4 April 2023.
The Board now expects that total income for this period will be
approximately GBP660k. The delayed contracted projects are still
expected to completed in and contribute to our income for the next
financial year ending 30 June 2024. The Board also expect the
potential new client project to be signed this calendar year,
although this cannot be guaranteed.
Executive Chairman & CEO, Dr Jim Millen, commented :
"Despite a significant and unanticipated reduction in demand
from one large client this financial year, the progress we've made
in diversifying our portfolio of clients has partially offset the
effects. There remains a strong interest in modelling and
simulation services driven by the expectations of regulators and I
believe that we are well positioned to take advantage of interest
generated by recent activities, such as our Project Optimus webinar
and podium presentation at AACR which could add significant value
from FY24 onwards."
Enquiries:
Physiomics plc
Dr Jim Millen, CEO
+44 (0)1865 784 980
Hybridan LLP (Broker)
Claire Louise Noyce
+44 (0) 203 764 2341
Strand Hanson Ltd (NOMAD)
James Dance & James Bellman
+44 (0)20 7409 3494
This announcement is released by Physiomics plc and contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in
accordance with the Company's obligations under Article 17 of
MAR.
Notes to Editor
About Physiomics
Physiomics plc (AIM: PYC) is an oncology consultancy using
mathematical models to support the development of cancer treatment
regimens and personalised medicine solutions. The Company's Virtual
Tumour(TM) technology uses computer modelling to predict the
effects of cancer drugs and treatments to improve the success rate
of drug discovery and development projects while reducing time and
cost. The predictive capability of Physiomics' technologies have
been confirmed by over 100 projects, involving over 50 targets and
75 drugs, and has worked with clients such as Merck KGaA, Astellas,
Merck & Co and Bicycle Therapeutics.
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END
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