Contracted revenues may seem a good thing, but they are not necessarily secured. That is especially true of pharma services companies. Medical imaging technology provider IXICO (LON: IXI) found this out when phase III clinical trial for a Huntington’s disease drug was suspended.
The client has subsequently confirmed that it is closing its open label extension study in May. That will reduce expected revenues by £300,000 in the year to September 2022 and it was expected to generate revenues for three more years. Total revenues are forecast to fall from £9.2m to £8.7m. Profit was going to be ...
