Physiomics plc (AIM: PYC), a provider of technology-based solutions to predict the effects of cancer treatment regimens for the biopharma industry, today announces that its total income and profit after tax for the financial year ended 30 June 2022 is likely to be in-line with market expectations.
During the year the Company made planned investments in the hiring of three new staff members (two technical and the new Head of Business Development) which contributed to net cash outflows of £356k. Despite this, the Company’s cash position remains strong, with £687k at the bank as at 30 June 2022, representing almost two years of cash runway. The Directors expect that the hiring of these key staff will translate to increased revenues during the financial year ending 30 June 2023.
The Company is pleased to reflect that over the course of the financial year ended 30 June 2022 it signed new or follow-on business with Merck KGaA, Numab Therapeutics, Bicycle Therapeutics, Ankyra Therapeutics, Ducentis Biotherapeutics and French big pharma company, Servier. In addition, the Company has progressed its observational clinical trial in Portsmouth, designed to generate data to further validate and develop its personalised dosing software.
Dr Jim Millen, CEO, will deliver a short presentation on this update via the Investor Meet Company platform on 13 July 2022 at 12pm GMT. The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9:00am the day before the meeting or at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and “add to meet” PHYSIOMICS PLC via the following link: https://www.investormeetcompany.com/physiomics-plc/register-investor. Investors who already follow PHYSIOMICS PLC on the Investor Meet Company platform will automatically be invited.
This announcement is released by Physiomics plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
Dr Jim Millen, CEO
+44 (0)1865 784 980
Hybridan LLP (broker)
Claire Louise Noyce
+44 (0) 203 764 2341
Strand Hanson Ltd (NOMAD)
James Dance & James Bellman
+44 (0)20 7409 3494
Notes to Editor
Physiomics plc (AIM: PYC) is an oncology consultancy using mathematical models to support the development of cancer treatment regimens and personalised medicine solutions. The Company’s Virtual Tumour™ technology uses computer modelling to predict the effects of cancer drugs and treatments to improve the success rate of drug discovery and development projects while reducing time and cost. The predictive capability of Physiomics’ technologies have been confirmed by over 80 projects, involving over 40 targets and 70 drugs, and has worked with clients such as Merck KGaA, Astellas, Merck & Co and Bicycle Therapeutics.