OptiBiotix Health shares crash on first-half results

The price of shares in AIM-listed life sciences firm OptiBiotix Health (LON:OPTI) has plunged by 23.97% to 50.18p (as of 13:55p) as losses for the six months ended 30th June widened by 6%. Revenues almost doubled compared to the same period of 2018 and management believe that there will be further growth during the second half.

CEO Stephen O’Hara commented: “This has been an exciting half year period, with twelve commercial deals signed, six for SlimBiome and six for LP-LDL, making a total of 44 deals since mid-2017. The large number of agreements signed in the last two years demonstrate early commercial progress. The next stage of the process is to ensure these agreements deliver recurring revenue streams to build sales growth in 2019 against a continued low-cost base and create profitable divisions across all areas of the Company.

“We are particularly proud of achieving the CE mark and medical device status for SlimBiome Medical product and GRAS status for LP-LDL which are both significant milestones. As we continue to move towards a commercial business, I would like to thank our shareholders for their continued support and we look forward to an exciting future commercialising our technology in this fast growth area“.