Oncimmune expects to report further strong top-line growth
Immunodiagnostics group Oncimmune Holdings said on Thursday that it expects to report further strong top-line growth in its current trading year.
Oncimmune said revenues were forecast to be in line with market expectations as it delivered on the first full year of its three-year forward strategy.
The AIM-listed firm added that recent commercial progress demonstrated its ability and commitment to deliver its strategy and unlock the latent value of its immunogenic protein platform technology, evidenced by three contracts signed with biopharmaceutical companies in the final quarter of 2020
Cash at the end of the year was roughly £4.2m and net debt was approximately £3.1m.
Chief executive Adam Hill said: "Following the launch of our three-year forward strategy, announced in late 2018, we have undertaken a ground-up assessment, identifying and capitalising upon the wide range of opportunities presented by Oncimmune's proprietary autoantibody-based platform built up over the past fifteen years; exploiting both its depth through novel indications, and its breadth across the entire patient care pathway.
"We firmly believe that the momentum we are now building from the foundations laid over the last 12 months validates our strategy and underpins the future commercial potential of our business."
As of 1050 BST, Oncimmune shares were up 6.22% at 119.50p.