DIACEUTICS PLC

Earnings Release • Jul 8, 2021

National Storage Mechanism | Additional information

RNS Number : 5390E

Diaceutics PLC

08 July 2021

8 July 2021                                                          

Diaceutics PLC

("Diaceutics" or the "Group" or the "Company")

Trading update for the six months ended 30 June 2021

Diaceutics PLC (AIM: DXRX), the diagnostic commercialisation company, announces a trading update for the six months ended 30 June 2021 (the "Period").

The Group has delivered a strong start to the 2021 financial year, in line with management's expectations, against the backdrop of the continuing global COVID-19 pandemic, reflecting the growing momentum in the business following the launch of the DXRX platform on 28 October 2020.

The Group expects to report revenue growth of approximately 13% to £6.0 million 1 (H1 2020: £5.3 million), being 24% on a constant currency basis.  The Group continues to invest in the development of the DXRX platform and closed the Period with net cash of £23.7 million 1 (H1 2020: £29.8 million), in line with the Board's expectations.

At the start of the year, the Board set a target for 20% of full year revenue to be generated via the DXRX platform. The Group delivered revenue from 25 projects via the platform, representing over 30% of revenue in the Period.

Peter Keeling, CEO and Founder of Diaceutics commented:

"I am pleased to report a positive trading performance in the first half of the year, demonstrating the growing momentum in the business following the successful launch of the DXRX platform last year. We are seeing clear evidence of its value to stakeholders within the Pharma industry and to Diaceutics, providing us with the ability to scale our offering in line with the increased growth in the precision medicine industry. We remain confident that we are on the path towards becoming a strategically embedded platform provider to the Pharma industry."  

Notice of Results

The Group's interim results for the six months ending 30 June 2021 are expected to be announced on 14 September 2021.

1      Revenue and Net Cash figures are unaudited

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014. The person responsible for release of this announcement on behalf of the Company is Philip White (Chief Financial Officer).

Enquiries:

Diaceutics PLC
Philip White, Chief Financial Officer	Via Alma PR
Stifel Nicolaus Europe Limited (Nomad & Broker)	Tel: +44 (0)20 7710 7600
Ben Maddison
Stewart Wallace
Nick Adams
Alma PR	Tel: +44(0)20 3405 0205
Caroline Forde	diaceutics@almapr.co.uk
Robyn Fisher
Kieran Breheny

About Diaceutics

At Diaceutics we believe that every patient should have access to the right treatment at the right time. We provide the world's leading pharmaceutical companies with an end-to-end solution for the launch of precision medicine diagnostics enabled by DXRX - The Diagnostic Network®. 

DXRX is the world's first diagnostic commercialisation platform for precision medicine, integrating multiple pipelines of real-world diagnostic testing data from a global network of laboratories.

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