Diaceutics builds on strong Q1, trades in line

Diagnostic commercialisation company Diaceutics said on Wednesday that it had built on its good start to the financial year, with trading in the first half in line with expectations.

Diaceutics said first-half revenues increased 20% to £5.3m, reflecting the historical second half weighting of sales within the business, while also noting it had seen "sustained demand" from its blue-chip client base, with steady repeat business.

Net cash at 30 June was £29.8m.

The AIM-listed group also highlighted that it continued to operate "highly efficiently" with current and pipeline projects largely uninterrupted by the Covid-19 pandemic.

Chief executive Peter Keeling said: "The impact of Covid-19 has exposed the fragility in the current precision medicine diagnostic ecosystem and highlighted the urgent need for a digital platform like DXRX.

"I am delighted with the progress that we have made with the platform, which remains on track for launch with our pharmaceutical clients in Q4 2020."

As of 1335 BST, Diaceutics shares were up 1.12% at 171.90p.