Optibiotix Health drops in spite of revenue growth

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Optibiotix Health drops in spite of revenue growth
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The share price of AIM-listed life science business Optibiotix Health (LON:OPTI) dropped by 8.91% to 50.10p (as of 15:15 GMT) despite showing substantial revenue growth during the year ended 30th November. The majority of this growth came during the second half and management expect further growth in the new year linked with new deals.

CEO Stephen O’Hara said: “This year has seen strong commercial progress with OptiBiotix extending its geographic reach and brand presence to 24 new countries and more agreements generating revenues for the first time or growing sales. As in previous years, the majority of income was generated in the second half of the year with total income for the year of just over £1.4m. We anticipate further revenue growth in 2020 as a UK launch of SlimBiome with a major UK retailer and LPLDL® with AlfaSigma contributes to full year revenues, large corporate partners (e.g Agropur, Akums) commercialise products, and we extend the application of our products into new areas (e.g dairy, healthy snacks, and breakfast cereals). We believe interest in the microbiome will continue to grow and the market opportunity increase. Given high investor and consumer interest in the microbiome in the USA and growing sales the board OptiBiotix has commissioned advisors to explore the potential of a dual NASDAQ listing“.

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