Diaceutics gets lift as it beats forecasts

AIM-listed medical diagnostics firm Diaceutics (LON:DXRX) saw its share price climb by 1.97% to 149.90p (as of 16:00 GMT) after it announced that revenues and adjusted EBITDA for the year ended 31st December were ahead of expectations. Although both were down on last year due to COVID, management said that significant progress had been made during the year.

CEO Peter Keeling commented: “In the first half of the year we grew our client base, revenue and global reach in line with the trajectory of precision medicine and, at the same time, continued our investments in data analytics and preparation for the launch of our DXRX platform in H2. From October onwards we implemented the successful launch of the DXRX platform, our proprietary diagnostic network for precision medicine, and have already seen initial Pharma client and laboratory interactions. In parallel with this we implemented a strategic restructure enabled by the shift to a platform centric business model.

“The business restructure along with our strong balance sheet, and position within the increasingly digital precision medicine marketplace, will enable Diaceutics to pursue growth and strategic opportunities as they arise“.