Allergy and infectious diseases tests developer Omega Diagnostics says that second half trading was slightly better than expected.
Revenues were 28% lower at £9.76m in the year to March 2019 and there was a small second half profit. Like-for-like revenues did improve by 3%. The full year was still loss-making. Net debt was £900,000.
Food intolerance revenues grew but other parts of the business declined.
VISITECT CD4 has achieved the CE Mark and a dossier will be submitted to the expert review panel for diagnostics this month. Approval will enable NGOs to procure the VISITECT CD4 disease test.
© 2019 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Omega Diagnostics will lose money this year, but it is on course to become profitable in 2020-21 as sales of the VISITECT CD4 test.
House broker Shore Capital has slashed its pre-tax profit forecast for engineer Tricorn Group by two-thirds to £420,000.
Evgen Pharma has entered into an agreement with The University of Dundee for the use of SFX-01 in a clinical trial in non-alcoholic steatohepatitis and liver fibrosis, where there is no existing treatment.