Trading Update and Notice of Results
Bioventix plc (BVXP), a UK company specialising in the development and commercial supply of high-affinity monoclonal antibodies for application in clinical diagnostics, announces a trading update.
The Board is pleased to report that revenues for the financial year ended 30 June 2016 are expected to be in excess of £5.3M (2015: £4.33M). A strong performance during the financial year has been supplemented by a positive exchange rate effect. S ince the cost base of the Company follows the same trajectory as in previous years, both revenues and profits before tax are expected to be ahead of market expectations for the year ended 30 June 2016.
The Board is encouraged by the recent development activities of our partner, Siemens Healthcare Diagnostics. A Bioventix-created antibody is being used in a Siemens troponin product that is under development, as mentioned in a scientific presentation at the August 2016 American Association of Clinical Chemistry. Troponin remains an important product for Bioventix’s future performance, as we expect to commence significant sales during the financial year ending 30 June 2018, which will offset revenues from other products which are expected to reduce during this period.
Notice of Results
The audited accounts for the year ended 30 June 2016 are due to be released on Monday 17 October 2016.
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
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For further information, please contact:
Peter Harrison, Chief Executive Officer – Tel: 01252 728 001
Geoff Nash/Simon Hicks, Corporate Finance – Tel: 020 7220 0500
Steve Norcross, Corporate Broking – Tel: 020 7220 0500
About Bioventix Plc
Bioventix (www.bioventix.com) specialises in the development and commercial supply of high-affinity monoclonal antibodies with a primary focus on their application in clinical diagnostics, such as in automated immunoassays used in blood testing. The antibodies created at Bioventix are generated in sheep and are of particular benefit where the target is present at low concentration and where conventional monoclonal or polyclonal antibodies have failed to produce a suitable reagent. Bioventix currently offers a portfolio of antibodies to customers for both commercial use and R&D purposes, for the diagnosis or monitoring of a broad range of conditions, including heart disease, cancer, fertility, thyroid function and drug abuse. Bioventix currently supplies antibody products and services to the majority of multinational clinical diagnostics companies. Bioventix is based in Farnham, UK and its shares are traded on AIM under the symbol BVXP.