Retroscreen Virology Group PLC Trading Update (9398E)
16 Février 2015 - 8:00AM
UK Regulatory
TIDMRVG
RNS Number : 9398E
Retroscreen Virology Group PLC
16 February 2015
For immediate release 07:00: 16 February 2015
RETROSCREEN VIROLOGY GROUP PLC
("Retroscreen" or the "Company")
TRADING UPDATE
Retroscreen Virology Group plc (AIM: RVG), the pioneer of hVIVO
human models of disease, announces a trading update today in
regards to current market conditions.
In November 2014 the Company announced that revenue for the year
ending 31 December 2014 was expected to be not less than GBP18.0
million, reflecting the impact of the outbreak of Ebola which had
caused a number of pharmaceutical customers to divert their
influenza and antiviral teams to work on Ebola vaccines and
treatments, with a consequential impact on the Company's revenue
pipeline.
The effects of Ebola have continued into the first half of 2015
and whilst there have been indications that these delays are
abating, the Company anticipates seeing lower than expected demand
in 2015 for early phase human challenge clinical trials in
influenza and now expects client engagements to run at a similar
level to 2014 with a weighting to the second half.
The Company intends to manage its resources to accommodate such
levels of activity and does not expect any negative impact on its
2015 cash projections. As forecasted in the Company's announcement
on 25 November 2014, the Company will report a cash balance of more
than GBP50.0 million as at 31 December 2014.
In line with the Company's strategic ambitions, the Company has
taken advantage of the resultant available capacity in H2'14 and
H1'15 to accelerate its hVIVO discovery programme sample studies
and looks forward to updating the market on this in due course.
For further information please contact:
Retroscreen Virology Group plc +44 207 756 1300
Kym Denny (CEO)
Graham Yeatman (FD)
Media Enquiries +44 203 021 3933 / +44 7854 979 420
Colin Paterson (Director of Marketing, Communication and Public
Relations)
Numis Securities Limited +44 207 260 1000
Michael Meade / Freddie Barnfield (Nominated Adviser)
James Black / Michael Burke (Corporate Broking)
Notes to Editors:
Retroscreen Virology Group plc ("Retroscreen") is a rapidly
growing life sciences company based in the UK pioneering a
technology platform called hVIVO which uses human models of disease
involving healthy volunteers to discover and study new drugs and
diagnostics. To date, Retroscreen has conducted over 35 clinical
studies, involving more than 1800 volunteers for a range of leading
industry, governmental and academic clients.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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