Oncimmune secures three new contracts
By Josh White
Date: Thursday 31 Oct 2024
(Sharecast News) - Oncimmune Holdings reported continued commercial progress on Thursday, securing three new contracts since its last update on 9 September.
The AIM-traded firm said the contracts, valued at £0.34m, contributed to the eight agreements totaling £2.14m signed over the last three months, indicating sustained momentum in its commercial activities.
Two of the latest contracts were with a top 10 global pharmaceutical company for work in a new area, showcasing Oncimmune's expanding engagement with existing high-profile clients.
The third contract involved further work on Immunoglobulin type E (IgE) autoantibody profiling, a technological advance highlighted in August, also for a top 10 global pharmaceutical customer.
While the contracts would not alter Oncimmune's 2025 financial year outlook, the board said they reinforced its market position and supported confidence in achieving revenue targets.
The company said it now had visibility of over 40% of its £6.9m revenue guidance for 2025.
"Following the fundraise, and successful debt recapitalisation of the business announced on 18 October, I am pleased to see that our relentless focus on the commercial side of the business continues to bear fruit," said chief executive officer Martin Gouldstone.
"These new wins with existing top 10 pharma customers keeps us on track to be a profitable business in 2025."
At 1107 GMT, shares in Oncimmune Holdings were up 2.13% at 15.83p.
Reporting by Josh White for Sharecast.com.
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