Diaceutics delivers 'strong start' to 2021 despite ongoing pandemic

Diagnostic commercialisation company Diaceutics said on Thursday that it had delivered "a strong start to the 2021 financial year", in line with management's expectations and despite the ongoing Covid-19 pandemic.

Diaceutics expects to report revenue growth of roughly 13% to £6.0m for the first half, while net cash was projected to be £23.7m as the firm continued to invest in the development of its DXRX platform.

The AIM-listed group also highlighted that its first-half performance reflected the growing momentum in the business following the launch of its DXRX platform on 28 October, which was responsible for over 30% of total revenues during the period.

Chief executive Peter Keeling said: "I am pleased to report a positive trading performance in the first half of the year, demonstrating the growing momentum in the business following the successful launch of the DXRX platform last year.

"We are seeing clear evidence of its value to stakeholders within the Pharma industry and to Diaceutics, providing us with the ability to scale our offering in line with the increased growth in the precision medicine industry. We remain confident that we are on the path towards becoming a strategically embedded platform provider to the Pharma industry."

As of 0955 BST, Diaceutics shares were up 0.96% at 126.20p.