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AIM-listed pharmaceutical company OptiBiotix Health (LON:OPTI) saw revenues for the year ended 30th November rise by 280% relative to the prior year as more of its products and agreements began generating income. Management said that they expect this growth to continue in 2019 as new deals come in and existing ones become further established and register full-year incomes.
CEO Stephen O’Hara commented that: “This year has seen strong revenue growth in the second half of 2018 as a number of agreements started to generate early revenues. We anticipate further revenue growth in 2019 as these deals contribute to full year revenues and partners continue to grow sales. Existing deals will start to generate further revenues, and new agreements are regularly being signed. We also anticipate growing contributions from our online sales divisions, sales of SlimBiome® Medical, and our SweetBiotix®, OptiBiotic®, and microbiome modulating platforms. The last 12 months has seen OptiBiotix transition from a research and development company to a commercial business with significant deal flow and rapidly growing revenues. This is all part of a strategy designed to develop multiple opportunities accessing healthcare markets around the world, which if successful, has the potential to generate substantive revenues and profitability. As these revenues grow and we continue to build trading histories with an increasing number of partners, we will be in a position to provide reliable forecasts to the market“.
Investors were unconvinced and Optibiotix Health’s shares fell by 6.62% to 85.44p (as of 15:25 GMT).