Drug Trial and Trading Update

RNS Number : 5975L

Feedback PLC

29 April 2015

 



29 April 2015

Feedback plc

("Feedback" or the "Company")

Drug trial and Trading update

Feedback plc (AIM: FDBK), the medical imaging software company, notes that TexRAD, its texture analysis software product will be used by Imaging Endpoints II, LLC, its exclusive partner, for imaging core lab purposes in a forthcoming drug trial in the United States. A study will shortly be commenced of colorectal cancer patients (Stage IIIc) with either Regorafenib or Standard of Care (No Treatment) after adjuvant FOLFOX. The Sponsor is US Oncology Research and the Collaborator is Bayer Healthcare Pharmaceuticals, Inc./Bayer Schering Pharma.

Trading Update

Following the recent announcements of new sales of TexRAD, the Company announces an update on current trading.

Revenue for the current financial year ending May 2015 is expected to be in line with market expectations however due to contractual settlement costs, the product sales mix and the timing of the revenue recognition from the new TexRAD sales, the loss for the year will be higher than the current market expectations.

We continue to seek to broaden the Company's profile in the medical imaging software sector and are in active discussions with a number of potential customers for research versions of the TexRad product.

We continue to manage our limited working capital resources so as to maximise opportunities with customers and also to continue to develop the Company's products.

For further information contact:

Feedback plc
Simon Barrell / Trevor Brown / Tom Charlton	Tel: [phone]
Sanlam Securities UK (Nominated Adviser and Joint Broker)
Simon Clements / Virginia Bull	Tel: [phone]
Peterhouse Corporate Finance Ltd (Joint Broker)
Lucy Williams / Duncan Vasey	Tel: [phone]

 

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