Business
Trading Update and Notice of Results
Trading Update and Notice of Results.
About this update from Diaceutics Plc
[{"type":"text","content":"\n\n25 July 2023\n \nDiaceutics PLC - Trading Update and Notice of Results\n \nDiaceutics delivers 32% revenue growth in first 6 months and reaffirms full year outlook\n \nOrder book growth of 43% in H1 2023 providing good forward visibility\n \nBusiness performing and growing with core DXRX platform adoption by large pharma customers driving momentum\n \nMarket opportunity is significant and growing as global pharma accelerates the shift to precision medicine to improve patient access, capture lost revenue and increase profitability\n \nDiaceutics becoming primary commercialisation partner for pharma launching precision medicines, with 21 of the top 30 global pharma companies as Diaceutics' customers\n \nStrong balance sheet with cash of £17.9m - fully funded to execute significant growth plans\n \n \nDiaceutics PLC (AIM: DXRX), a leading technology and solutions provider to the pharmaceutical industry, today announces a strong performance and continuing growth across its business for the six months ended 30 June 2023.\n \nPeter Keeling, Diaceutics' Chief Executive Officer, commented: \"We are pleased to report that the strong momentum we enjoyed in 2022 has continued into 2023 and delivered a very positive first half performance, with recurring revenue and order book growth in line with our already ambitious expectations. Encouragingly, we are also seeing more normal market conditions beginning to return, with large pharma companies increasingly recognising the importance of utilising our data technology in identifying candidate patients and improving their commercial success. Our historic and continuing investment in the DXRX platform is allowing us to take advantage of the significant and growing market opportunity.\n \nWe remain confident in our proven growth strategy and in our ability to perform and deliver future growth as we continue to hit our key milestones for the DXRX platform expansion and introduce new products to profile and target suitable patients. Most encouraging is the positive feedback we are receiving from our clients as they increasingly use the DXRX platform to identify and deliver therapies to patients in need worldwide.\"\n \nTrading Update to 30 June 2023\nDuring the period, Diaceutics delivered revenue, order book and recurring rev...