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Diaceutics PLC (AIM: DXRX) exceeds full year guidance reporting strong finish to 2019 financial year

13 January, 2020

Diaceutics PLC (AIM: DXRX), a provider of data analytics and implementation services to the global pharmaceutical industry, announces a trading update for the year ended 31 December 2019.  As a result of a strong trading performance in the final quarter, underpinned by an increase in the number of clients and an accelerated growth in product sales, the Group’s revenue and adjusted EBITDA* for the year to 31 December 2019 are expected to be approximately £13.4 million*** (2018: £10.4 million) and to be above £2.1 million*** (2018: £1.5 million) respectively, ahead of market expectations.

The Group has benefitted from its investment in a strong analytical and innovative team, the expansion and development of its data lake and international expansion resulting in a robust global service.  This coupled with operational efficiencies within the business has resulted in improved margins.

All outstanding debt has now been retired from the balance sheet resulting in net cash of £11.7 million (2018: £2 million). This strong cash position enables the Group to continue to expand globally and fund the completion and launch of the Nexus platform in 2020, strengthening its current market position in global test commercialisation.

The overall precision medicine market is expected to double in size from 2018 to 2026** driven by key areas of geographic and technical focus for Diaceutics including Oncology, healthcare data, North America and Asia.

The Group’s annual audited results will be announced on 16 March 2020.

*Adjusted EBITDA is EBITDA excluding exceptional items but after share based payments.

** Source: ARC Analysis, October 2019.

*** Subject to Audit.

Peter Keeling, CEO of Diaceutics said: We are pleased to have delivered on both our operational and financial commitments, exceeding full year guidance, while continuing to invest in the long-term future of the Group.  2019 was a key year in expanding our global footprint and deepening our service relationships with key clients and their therapy brands. These results provide a solid base for 2020 and the launch of our Nexus platform later in 2020.”

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

About Diaceutics

At Diaceutics we believe that every patient should get the precision medicine they deserve. We are a data analytics and end-to-end services provider enabled by DXRX - the world’s first Network solution for the development and commercialization of precision medicine diagnostics. 

Diaceutics has worked on every precision medicine brought to market and provides services to 36 of the world’s leading pharmaceutical companies. We have built the world’s largest repository of diagnostic testing data with a growing network of 2500 labs in 51 countries.