Half Year Pre-Close Update

RNS Number : 1473L

Cambridge Cognition Holdings PLC

02 July 2014

 



Cambridge Cognition Holdings Plc

('Cambridge Cognition' or the 'Company')

Half Year Pre-Close Update

Cambridge Cognition Holdings plc, (AIM: COG), which specialises in computerised neuropsychological tests including those enabling the acceleration of safe and effective medicines in drug development, provides the following trading update for the six months ended 30 June 2014.

Cambridge Cognition has traded well in the first half of 2014 and the Directors remain confident of achieving full year expectations. Revenues for the six months ended 30 June 2014 are expected to be c. 25% ahead of the same period last year at approximately £2.5m (H1 2013: £2.0m) and a strong pipeline has been built for the second half.

The recent announcements by the Company's Clinical Trials division, Cantab Solutions, of certain significant contract wins provides the Directors not only with the confidence that they can return the Company to growth in this year but confirms that the strategy of focussing on drug characterisation and Human Abuse Liability can deliver higher quality and predictable revenues. Furthermore, the announcement of the Company's appointment to participate in a global multi-year study focussed on drug characterisation, is an indication of the demand for Cambridge Cognition's technology.

The Cantab Research product has also had a strong first half reflecting the benefits of the targeted approach to academic institutions now being adopted following the introduction of a structured commercial team. 

The Company's understanding of the potential of Cantab Mobile continues to grow. The Cantab Mobile products in deployment will have soon completed 10,000 patient assessments, the results of which will be used as part of a major review prior to instigating the second phase of the UK commercial journey.

Further information will be provided with our interim results which will be announced on Thursday 11^th September.

Enquiries:

Cambridge Cognition Holdings plc	www.cambridgecognition.com
Nick Kerton, Chief Executive Officer	Tel: [phone]
Nick Walters, Chief Financial Officer
finnCap Ltd (Nomad and Broker)	Tel: [phone]
Matthew Robinson/Henrik Persson/Simon Hicks	(Corporate Finance)
Elizabeth Johnson	(Corporate Broking)
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Lianne Cawthorne	Mob: [phone]

 

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