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IXICO PLC (LSE:IXI, OTC:PHYOF, FRA:PYPB) has reported strong first-half trading, with revenues expected to rise 23% to £3.9 million for the six months ended 31 March. The company said growth was driven by new contract wins, contract extensions and increased volumes of biomarker analysis, which measures biological indicators used to track disease progression in clinical trials.
IXICO expects gross margin to improve to 53% from 50% in the equivalent prior period, reflecting greater operational leverage as revenues scale. The company also reported that its loss before interest, tax, depreciation and amortisation (EBITDA) narrowed to £0.5 million from £0.7 million, as higher revenues partially offset continued investment in its growth strategy.
The order book, representing signed contracts not yet delivered, is expected to reach £18.1 million. This would be a 38% increase on the same point last year and 31% ahead of the full-year 2025 position, providing what chief executive Bram Goorden described as good visibility of future revenues.
Cash stood at £1.7 million at the period end, down from £5 million a year earlier. IXICO completed a £10 million capital raise on 31 March, netting £9.4 million after costs.
The investment round is intended to support IXICO’s strategy of embedding its IXI platform within the broader infrastructure of contract research organisations (CROs) and clinical trial management systems.
Goorden said the company remains on track to meet full-year expectations and expressed confidence in the growth trajectory, citing the enlarged order book as evidence of sustained commercial momentum. IXICO will publish its interim results on 19 May.
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