Business
Interim Results Statement
Interim Results Statement.
About this update from Physiomics Plc
[{"type":"text","content":"\n \nRNS Number : 1669F Physiomics PLC 19 February 2018 \n\n \n \n \n \n \n \nPhysiomics Plc\n \n(\"Physiomics\" or \"the Company\")\n \nInterim Results Statement\nfor the six-month period ended 31 December 2017\n \n \nOxford, UK, 19 February 2018: The Board of Physiomics Plc, a provider of technology-based solutions to predict the effects of cancer treatment regimens for the biopharma industry (AIM: PYC), today announces its financial results for the six months ended 31 December 2017. \n \nPhysiomics' Virtual Tumour is a sophisticated computer model that simulates tumour cell division and predicts the effect of different anti-cancer regimes to support pre-clinical and clinical oncology development programs. Virtual Tumour helps customers to balance efficacy and toxicity and to prioritise the most effective drug combinations while reducing time and cost.\n \nSummary financial results\n \n· Revenue of £74k (H1 2016: £174k)\n· Total income £142k* (H1 2016: £174k)\n· Operating loss £220k (H1 2016: £263k**)\n· Cash and cash equivalents of £166k at 31 December 2017 (31 December 2016: £322k)\n· Shareholders' funds of £190k at 31 December 2017 (31 December 2016: £495k) \n \n* Total income for the six months ended 31 December 2017 includes other operating income which is grant income of £68k (H1 2016: £Nil)\n \n** The operating loss for H1 2016 is after exceptional costs of £41k relating to the termination of the Biomoti acquisition\n \n \n \nOperational highlights\n \nKey events in the period include:\n \n· Announcement that the Company had signed two new contracts with a global pharma company for Virtual Tumour pre-clinical predictions relating to a new oncology target\n· Announcement that the Company had entered into a Master Services Agreement with Merck whose value to Physiomics in calendar 2018 is expected to be €500k\n \nKey events subsequent to the period include:\n \n· Announcement of a pre-clinical project with a new major pharmaceutical client, due to complete during current financial year\n· Annou...