Business
Interim Results to 31 December 2009
Interim Results to 31 December 2009.
About this update from Bioventix Plc
[{"type":"text","content":"\n \n Bioventix plc \n\n INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2009 \n\nFarnham, UK, 7 April 2010. Bioventix plc (BVXP) (\"Bioventix\" or \"the Company\"),\na UK company that specialises in the development and commercial supply of\nhigh-affinity monoclonal antibodies for applications in clinical diagnostics,\nannounces its unaudited interim financial results for the six-month period\nending 31 December 2009.\n\nHighlights\n\n * Profit before tax of £386,210 on turnover of £768,419 during period (profit\n before tax for the full year ended 30 June 2009 was £857,080 on turnover of\n £1.65 million)\n \n * Strong cash position of £1.48 million at 31 December 2009 (£1,18 million at\n 30 June 2009)\n \n * Continued development of the Bioventix antibody pipeline including the\n supply of novel vitamin D (25-OH D) antibodies to multiple customers\n \nPost Balance Sheet Events\n\n * Issue of 6,250 Preference shares in full settlement of the convertible loan\n note and a capital reorganisation resulting in 5,050,000 ordinary shares\n and no preference shares in issue\n \n * The Company re-registered as a public company under the name Bioventix plc\n on 11 March 2010\n \n * Interim dividend of 4p per share (based on a share capital of 5,050,000\n ordinary shares) was paid on 31 March 2010\n \n * Bioventix shares were admitted to trading on PLUS-quoted (BVXP) on 7 April\n 2010\n \nChairman's and Chief Executive's Statement\n\nThe activities of the company remained largely unchanged during the financial\nperiod. Resources continued to be focused on the creation and supply of sheep\nmonoclonal antibodies for use on clinical diagnostics machines used at\nhospitals, clinics and other laboratories. Such machines, provided by large\nmultinational diagnostics companies such as Roche Diagnostics (Mannheim),\nAbbott Laboratories (Chicago), Siemens Healthcare Diagnostics (Deerfield) and\nothers, are used for the analysis of blood, urine and other samples from human\npatients.\n\nOver the last 18 months, there has been significant growth in revenues from the\nsupply of purified antibodies to such multinational companies but also due to a\nsignificant increase in royalty payments derived from the sale of certain tests\nthat feature Bioventix antibodies. The advent of these substantial ongoing\nroyalty payments marks an inflection p...