Physiomics PLC - Milton Park, England-based data science company, focused on new therapeutics and personalised medicine solutions - Warns several large contracts have taken longer than expected to be signed. It predicts total income for the year to June 30 will decline to a range of £600,000-£650,000 as a result. It adds: ‘The company is in the final stages of negotiation for two projects (one with an existing client and one with a potential new client), the total value of which is expected to be, in aggregate, approximately £350,000. Whilst the board anticipates that the contracts for these two projects will be signed in FY24, the majority of the revenue is now expected be recognised in the company’s next financial year ending 30 June 2025, and accordingly the board’s expectations for FY25 revenues have been correspondingly increased.’
Chief Executive Officer Pete Sargent says: ‘Whilst we are clearly disappointed that the execution of these two large contracts has been delayed, we have a high level of confidence that they will be signed before the end of this financial year.’
Current stock price: 1.24 pence per share, down 17% Friday afternoon in London
12-month change: down 59%
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