Physiomics shares have nearly doubled over the past week after announcing two separate contract awards. Yesterday, the company said it had won a contract with a new client and had received a further contract from an existing client.
Physiomics shares were 44% higher to 1.9p at the time of writing on Friday after trading below 1p this time last week.
Longstanding client global pharma giant Merck has awarded Physiomics with an additional contract involving pre-clinical and clinical modelling and simulation of anti-cancer regimens involving combinations of DNA damage/ repair agents. Merck has engaged Physiomics for a similar service previously.
Physiomics CEO, Dr Jim Millen, commented on the Merck contract:
“We are pleased that this longstanding client has once again chosen Physiomics as a partner for outsourced modelling. We look forward to the possibility of further projects with Merck during the current financial year.”
In addition to the Merk contract, Physiomics yesterday afternoon announced a £125,000 contract with a new UK-biotech company.