Diaceutics maintains expectations after first quarter

Diaceutics said it had made a “good start” to the 2020 financial year on Tuesday, with trading in the first quarter in line with the board's expectations.

The AIM-traded firm, which was holding its annual general meeting later in the day, said its guidance for the full year remained unchanged.

It said it was making “excellent” operational progress with its diagnostic network, called ‘DXRX - The Diagnostic Network’, and formerly dubbed ‘Nexus’.

The board explained that the platform would enable Diaceutics to meet the need for a global standardised diagnostic process by offering an end-to-end solution for the development and commercialisation of precision medicine diagnostic testing.

It said it would “significantly enhance” its customer service offering, to meet the increased market demand being created by new precision medicines currently in pharmaceutical company pipelines.

“In light of the disruption caused by Covid-19 across the world, I'm extremely proud of the achievements of all the employees at Diaceutics and the great progress that is being made by the group in the rollout of DXRX,” said chair Julie Goonewardene.

“This integrated platform will simplify the increasingly complex precision testing ecosystem and we look forward to its commercial launch later in the year.”

Diaceutics said its interim results for the six months ending 30 June were scheduled to be announced on 7 September.

At 0853 BST, shares in Diaceutics were down 3.05% at 143p.